GBTC supply chain intelligence for Grayscale Bitcoin Trust ETF: verified suppliers, customers, debt relationships, acquisitions, and ownership data.
Data compiled by Redley Lamar · ChainSifter Intelligence
Grayscale Bitcoin Trust ETF (GBTC) is shown with relationship data already present in ChainSifter's database. Counts below come from stored supply-chain records and filing/source URLs where available; missing source URLs are not filled in or estimated.
| Ticker | Name | Confidence | Evidence |
|---|---|---|---|
| INDEX-PROVIDER | INDEX-PROVIDER | 92% | The Index Provider and the Sponsor have entered into the index license agreement, dated as of February 1, 2022 |
| ANCHORAGE-DIGITAL | ANCHORAGE-DIGITAL | 90% | Anchorage Digital Custodian Agreement —The Master Custody Service Agreement, dated as of August 8, 2025, between the Trust and Anchorage Digital regarding the custody and safekeeping of the Trust’s B… |
| COIN | Coinbase Global, Inc. | 90% | Reciprocal relationship from COIN graph: Reciprocal relationship from GBTC graph: The Custodian has advised the Sponsor that it has insurance coverage pursuant to policies held by Coinbase Global, wh… |
| COIN | Coinbase Global, Inc. | 90% | The Custodian has advised the Sponsor that it has insurance coverage pursuant to policies held by Coinbase Global, which procures fidelity (or crime) insurance coverage at commercially reasonable amo… |
| COINDESK-INDICES-INC | COINDESK-INDICES-INC | 90% | Index Provider —CoinDesk Indices, Inc., a Delaware corporation that publishes the Index. |
| COINBASE-CUSTODY-TRUST-COMPANY-LLC | COINBASE-CUSTODY-TRUST-COMPANY-LLC | 85% | Coinbase Custody Trust Company, LLC is the custodian (the “Custodian”). |
| COINBASE-INC | COINBASE-INC | 85% | Coinbase, Inc. is the prime broker (the “Prime Broker”) of the Trust |
| FORESIDE-FUND-SERVICES-LLC | FORESIDE-FUND-SERVICES-LLC | 85% | Marketing Agent —Foreside Fund Services, LLC. |
| BLSH | Bullish | 80% | Bullish is not available to U.S. based customers. |
| BLSH | Bullish | 80% | Reciprocal relationship from BLSH graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from BLSH graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from BLSH g… |
| CRYPTO-COM | CRYPTO-COM | 80% | Crypto.com does not hold a BitLicense. |
| GSIS | GSIS | 80% | Liquidity Providers with which GSIS, acting in its capacity as the Liquidity Engager, will engage in Bitcoin transactions are third parties that are not affiliated with the Sponsor or the Trust |
| KRAKEN | KRAKEN | 80% | Kraken does not hold a BitLicense. |
| LMAX-DIGITAL | LMAX-DIGITAL | 80% | LMAX Digital does not hold a BitLicense. |
| HZEN | Grayscale Horizen Trust (ZEN) | 72% | Reciprocal relationship from HZEN graph: the Authorized Participant may rely on one or more Liquidity Providers to source ZEN in connection with the creation of Shares. Any disruptions to such servic… |
| ZCSH | Grayscale Zcash Trust (ZEC) | 72% | Reciprocal relationship from ZCSH graph: e Authorized Participant may rely on one or more Liquidity Providers to source ZEC in connection with the creation of Shares. Any disruptions to such service … |
| BTCW | WisdomTree Bitcoin Fund | 62% | Reciprocal relationship from BTCW graph: rm’s transaction volume and as a result impact the trading price on those platforms and (ii) bitcoin platforms that are inaccessible to the Trust. In order to… |
| ETH | Grayscale Ethereum Mini Trust ETF | 62% | Reciprocal relationship from ETH graph: completed on November 19, 2024), which were distributed on the Distribution Date to ETHE shareholders as of the Record Date, pro rata based on a 1:1 ratio. “ I… |
| GDOG | Grayscale Dogecoin Trust ETF | 62% | Reciprocal relationship from GDOG graph: ntageous market. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and w… |
| GSOL | Grayscale Solana Staking ETF | 62% | Reciprocal relationship from GSOL graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from GSOL graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from GSOL g… |
| NAKA | Nakamoto Inc. | 62% | Reciprocal relationship from NAKA graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from NAKA graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from NAKA g… |
| Ticker | Name | Confidence | Evidence |
|---|---|---|---|
| BLSH | Bullish | 72% | Item 8.01. Other Events. On March 16, 2026, Grayscale Investments Sponsors, LLC (the “Sponsor”), the sponsor of Grayscale Bitcoin Trust ETF (the “Trust”), announced a change to the index price used t… |
| BLSH | Bullish | 72% | Reciprocal relationship from BLSH graph: Reciprocal relationship from GBTC graph: Item 8.01. Other Events. On March 16, 2026, Grayscale Investments Sponsors, LLC (the “Sponsor”), the sponsor of Grays… |
| BTC | BTC | 72% | geous market. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. 81 The Trust on… |
| BTC | BTC | 72% | Reciprocal relationship from BTC graph: Reciprocal relationship from GBTC graph: geous market. Market participants are defined as buyers and sellers in the principal or most advantageous market that … |
| HZEN | Grayscale Horizen Trust (ZEN) | 72% | Reciprocal relationship from HZEN graph: Reciprocal relationship from GBTC graph: Reciprocal relationship from HZEN graph: in doing so may adversely affect the value of the Shares. In the event of a … |
| ZCSH | Grayscale Zcash Trust (ZEC) | 72% | Reciprocal relationship from ZCSH graph: and in doing so may adversely affect the value of the Shares. In the event of a hard fork of the Zcash Network, the Sponsor will, as permitted by the terms of… |
| CO-LLC | CO-LLC | 62% | aff cannot and will not devote all of its or their respective time or resources to the management of the affairs of the Trust, the Sponsor intends to devote, and to cause its professional staff to de… |
| DIGITAL-CURRENCY-GROUP-INC | DIGITAL-CURRENCY-GROUP-INC | 62% | to investors. 104 Digital Currency Group, Inc. DCG is (i) the sole equity holder and indirect parent company of the Sponsor, (ii) the indirect parent company of Grayscale Securities, the Authorized P… |
| JANE-STREET-CAPITAL-LLC-VIRTU-AMERICAS-LLC | JANE-STREET-CAPITAL-LLC-VIRTU-AMERICAS-LLC | 62% | aff cannot and will not devote all of its or their respective time or resources to the management of the affairs of the Trust, the Sponsor intends to devote, and to cause its professional staff to de… |
| Holder | Name | Confidence | Evidence |
|---|---|---|---|
| GBTC-OWNER-HORIZON-KINETICS-ASSET-MANAGEMEN | HORIZON KINETICS ASSET MANAGEMENT LLC | 90% | 13F overlay lists HORIZON KINETICS ASSET MANAGEMENT LLC as top holder; 668 tracked holders. |
| Ticker | Name | Chain Index | Hops | Relationship Types |
|---|---|---|---|---|
| BWOW | Bitwise Dogecoin ETF | 100.00 | 2 | |
| LAC | Lithium Americas Corp. | 100.00 | 2 | |
| BSOL | Bitwise Solana Staking ETF | 100.00 | 2 | |
| BLBX | Blackboxstocks Inc | 100.00 | 2 | |
| BITW | Bitwise 10 Crypto Index Fund | 100.00 | 2 | |
| HZEN | Grayscale Horizen Trust (ZEN) | 100.00 | 1 | ['customer', 'supplier'] |
| BITB | Bitwise Bitcoin ETF | 100.00 | 2 | |
| BTC | Grayscale Bitcoin Mini Trust ETF | 100.00 | 1 | ['customer'] |
| CMBT | Cmb.Tech NV | 100.00 | 2 | |
| ETHW | Bitwise Ethereum ETF | 100.00 | 2 | |
| GSOL | Grayscale Solana Staking ETF | 100.00 | 2 | ['supplier'] |
| COIN | Coinbase Global, Inc. | 100.00 | 1 | ['supplier'] |
| GSUI | Grayscale Sui Staking ETF | 100.00 | 2 | |
| GXRP | Grayscale XRP Trust ETF | 100.00 | 2 | |
| BTCW | WisdomTree Bitcoin Fund | 100.00 | 2 | ['supplier'] |
| GDOG | Grayscale Dogecoin Trust ETF | 100.00 | 1 | ['supplier'] |
| XYF | X Financial | 100.00 | 2 | |
| ETH | Grayscale Ethereum Mini Trust ETF | 100.00 | 2 | ['supplier'] |
| CRMZ | CreditRiskMonitor.com, Inc. | 100.00 | 2 | |
| TWOD | Two Harbors Investment Corp. | 100.00 | 2 |