Based on 57 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BITX 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
57 hedge funds hold BITX 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 — +27% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+27% 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.
🟢
More buyers than sellers — 62% buying
46 buying28 selling
Last quarter: 46 funds were net buyers (28 opened a brand new position + 18 added to an existing one). Only 28 were sellers (13 trimmed + 15 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+17 vs last Q)
new funds entering per quarter
Funds opening a new BITX position: 20 → 18 → 11 → 28. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 47% entered in last year
■ 12% conviction (2yr+)
■ 40% medium
■ 47% new
Only 7 funds (12%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares -26%, value -63%
Last quarter: funds added -26% more shares while total portfolio value only changed -63%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~28 new funds/quarter
19 → 20 → 18 → 11 → 28 new funds/Q
New funds entering each quarter: 20 → 18 → 11 → 28. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 58% of holders entered in last year
■ 18% veterans
■ 24% 1-2yr
■ 58% new
Of 67 current holders: 39 (58%) entered in the past year, only 12 (18%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
6 of 57 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.