Grayscale Bitcoin Trust (BTC)
US ˙ ARCA ˙ US3896371099

SecurityGBTC / Grayscale Bitcoin Trust (BTC)
InstitutionCwm, Llc
Latest Disclosed Ownership20,059 shares
Latest Disclosed Value $ 1,058,313
Cwm, Llc reports 23.83% increase in ownership of GBTC / Grayscale Bitcoin Trust (BTC)

On May 14, 2026 - Cwm, Llc filed a 13F-HR form disclosing ownership of 20,059 shares of Grayscale Bitcoin Trust (BTC) (US:GBTC) valued at $1,058,313 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 16,199 shares of Grayscale Bitcoin Trust (BTC). This represents a change in shares of 23.83% during the quarter. The current value of the position is $938,761 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F GRAYSCALE BITCOIN TRUST ETF SHS REP COM UT 389637109 20,059 3,860 23.83 1,058 105,700.00 0.0028
2026-01-26 2025-12-31 13F GRAYSCALE BITCOIN TRUST ETF SHS REP COM UT 389637109 16,199 3,628 28.86 1 0.00 0.0030
2025-10-15 2025-09-30 13F GRAYSCALE BITCOIN TRUST ETF SHS REP COM UT 389637109 12,571 6,802 117.91 1 0.0034
2025-07-25 2025-06-30 13F GRAYSCALE BITCOIN TRUST ETF SHS REP COM UT 389637109 5,769 957 19.89 0 0.0017
2025-05-01 2025-03-31 13F GRAYSCALE BITCOIN TRUST ETF SHS REP COM UT 389637109 4,812 599 14.22 0 0.0013
2025-02-04 2024-12-31 13F GRAYSCALE BITCOIN TRUST ETF SHS REP COM UT 389637109 4,213 1,431 51.44 0 0.0013
2024-10-08 2024-09-30 13F GRAYSCALE BITCOIN TR BTC SHS REP COM UT 389637109 2,782 1,999 255.30 0 0.0006
2024-07-10 2024-06-30 13F GRAYSCALE BITCOIN TR BTC SHS REP COM UT 389637109 783 783 0 0.0002
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.