Regulatory filings show that hedge fund Alkeon Capital holds about 920,000 call options tied to the Grayscale Bitcoin Trust ETF, with the position valued at roughly $48.5 million to $49 million. The filing cuts sharply against claims circulating on social media that the firm had built a $23 billion Bitcoin ETF position. The exposure was set up through options rather than direct share ownership, making it a directional trade with capped risk rather than an outright spot-style allocation. According to CryptoBriefing, Alkeon’s broader equity portfolio ranges from $22 billion to $59 billion and is concentrated mainly in traditional technology names including TSMC, Alphabet, Meta and Nvidia. The size and structure of the GBTC-linked position fit a pattern seen among traditional hedge funds, which have tended to approach crypto exposure through spot Bitcoin ETFs with relatively measured allocations.
Regulatory filings show that hedge fund Alkeon Capital holds about 920,000 call options on the Grayscale Bitcoin Trust ETF, with the position valued at roughly $48.5 million to $49 million.
That figure is far below the $23 billion Bitcoin ETF holding claim that had circulated on social media. The filing indicates the exposure was built through options, not direct ownership of fund shares, making it a capped-risk directional bet.
According to CryptoBriefing, Alkeon’s overall equity portfolio is sized between $22 billion and $59 billion. Its main holdings include TSMC, Alphabet, Meta and Nvidia. The relatively modest GBTC-linked position fits the broader pattern of traditional hedge funds taking cautious crypto exposure through spot Bitcoin ETFs.
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