Grayscale Bitcoin Trust (GBTC) Estimated Holdings
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Grayscale Bitcoin Trust (GBTC) Estimated Holdings tracks the quantity of BTC attributed to GBTC in identified wallets. The series adds those balances in BTC and spans the fund’s tracked history, rather than measuring share price, trading volume or net asset value.
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A declining balance indicates less BTC attributed to GBTC, while a rising balance indicates more. The recorded peak was about 662,392 BTC on February 22, 2021; the balance was about 640,281 BTC in October 2022 and about 225,378 BTC in October 2025, showing a substantial reduction over that interval.
Changes in fund structure, redemptions, expenses and custody allocation can affect balances, so a decline should not all be labeled selling by investors. The series begins in 2018 with a zero observation, which is a coverage feature rather than proof that the fund had no assets. Compare official fund figures when exact holdings are required.
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- Dagligt (UTC 00:00)
- Aktiv
- BTC
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- Institutioner og børser
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- Enkelt værdi
- Enhed
- BTC
- Data siden
- 2018-01-02
- Seneste data
- 2026-10-28
FAQ
Does the GBTC chart measure its share-price discount?
No. A discount or premium compares the traded share price with net asset value per share. This chart records the estimated BTC quantity, which is a different measure.
Does every decline in GBTC holdings mean bitcoin was sold on an exchange?
No. Redemptions, fund-structure changes, expenses or transfers between custody allocations can reduce the attributed balance. A BTC balance change alone does not identify the execution venue or transaction type.
Why can GBTC’s dollar assets rise while BTC holdings fall?
A sufficiently strong BTC price increase can outweigh a reduction in coins held. Reading the BTC balance alongside price helps separate the fund’s quantity change from its valuation change.
