Based on 196 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BITF than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
196 hedge funds hold BITF right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀
Fast accumulation — +35% more funds vs a year ago
fund count last 6Q
+51 new funds entered over the past year (+35% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡
Slight buying edge — 57% buying
132 buying100 selling
Last quarter: 132 funds bought or added vs 100 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈
More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening a new BITF position: 26 → 14 → 64 → 75. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 35% long-term, 38% new
■ 35% conviction (2yr+)
■ 28% medium
■ 38% new
Of the 196 current holders: 68 (35%) held >2 years, 54 held 1–2 years, and 74 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares +40%, value -93%
Last quarter: funds added +40% more shares while total portfolio value only changed -93%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
32 → 26 → 14 → 64 → 75 new funds/Q
New funds entering each quarter: 26 → 14 → 64 → 75. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Deep conviction — 45% of holders stayed 2+ years
■ 45% veterans
■ 14% 1-2yr
■ 41% new
Of 222 current holders: 100 (45%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 23% AUM from major funds
23% from top-100 AUM funds
27 of 196 holders rank in the top 100 by AUM, accounting for 23% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.