BTC Hedge Fund Ownership (Q2 2026)

Q: Is it too late to buy Grayscale Bitcoin Mini Tr Et (BTC) following the 2026 Q2 hedge fund 13F filings?

As of today, BTC has moved +21.6% since the 2026 Q2 13F filing date (August 14, 2026), compared to -1.8% for the SPY sector ETF — an outperformance of +23.4%. Since the quarter end (June 30, 2026), BTC gained +30.3% vs +2.1% for SPY. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Grayscale Bitcoin Mini Tr Et (BTC)

464 + Investors. Track Smart Money conviction in BTC. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — BTC

Based on 467 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q

For 2 consecutive quarters, more hedge funds reduced or closed their BTC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

📊

High ownership — 93% of 3.0Y peak

93% of all-time peak

467 funds currently hold this stock — 93% of the 3.0-year high of 500 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.

📶

Steady growth — +4% more funds vs a year ago

fund count last 6Q

+19 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.

🟡

Slight buying edge — 50% buying

197 buying199 selling

Last quarter: 197 funds bought or added vs 199 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.

⚠️

Fewer new buyers each quarter (-25 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 90 → 80 → 79 → 54. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔄

Mostly new holders — 25% entered in last year

■ 2% conviction (2yr+) ■ 73% medium ■ 25% new

Only 9 funds (2%) 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 +27%, value -68%

Value

-68%

+27%

Last quarter: funds added +27% more shares while total portfolio value only changed -68%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

📊

Peak discovery — momentum slowing

86 → 90 → 80 → 79 → 54 new funds/Q

New funds entering each quarter: 90 → 80 → 79 → 54. BTC is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.

📊

Mixed cohorts — 1% veterans, 33% new entrants

■ 1% veterans ■ 66% 1-2yr ■ 33% new

Of 473 current holders: 3 (1%) held 2+ years, 312 held 1–2 years, 158 (33%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.

📋

Smaller funds dominant — 14% AUM from top-100

14% from top-100 AUM funds

22 of 466 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

3.3

out of 10

Low Exit Risk

Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q2)	Prior (2026 Q1)	Change
Funds Holding	464	491	-5.5%
13F Shares	36M	28M	27.37%
Total Value	$961M	$3.02B	-68.17%
New Positions	53	79	-26
Increased Positions	138	169	-31
Closed Positions	79	87	-8
Reduced Positions	120	98	+22
Total Calls	3	4	-25.0%
Total Puts	3	3	-
PUT/CALL Ratio	1.0	0.75	Neutral

Metric

All 13F Filers (2026 Q2)

Prior (2026 Q1)

Change

Funds Holding

464

491

-5.5%

13F Shares

36M

28M

27.37%

Total Value

$961M

$3.02B

-68.17%

New Positions

-26

Increased Positions

138

169

-31

Closed Positions

-8

Reduced Positions

120

+22

Total Calls

-25.0%

Total Puts

PUT/CALL Ratio

1.0

0.75

Neutral

Institutional Holders (2026 Q2)

464 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BTC. Verified SEC 13F-HR filings.

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 BTC holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Bullish	64.80%	4,523,963	$175.2M
2	Emory University	21.95%	1,354,148	$35.1M
3	Paragon Advisors, LLC	7.12%	1,306,342	$33.9M
4	Kaleidoscope Capital LP	6.12%	637,727	$16.5M
5	ParaFi Capital LP	3.74%	520,000	$13.5M
6	HFG Wealth Management, LLC	3.09%	118,551	$3.1M
7	Sloy Dahl & Holst, LLC	3.06%	954,568	$24.8M
8	Pacific Excel Wealth Advisors, Inc.	2.06%	205,477	$5.3M
9	Heritage Family Offices, LLP	2.06%	205,477	$5.3M
10	Exit Wealth Advisors, LLC.	1.91%	161,725	$4.2M
11	Cushing Capital Partners, LLC	1.90%	106,264	$2.8M
12	VVR Holdings LLC	1.90%	168,908	$4.4M
13	Horizon Kinetics Asset Management LLC	1.79%	6,067,993	$157.5M
14	Verde Capital Management	1.54%	320,526	$8.3M
15	Reliant Wealth Planning	1.33%	186,312	$4.8M
16	Elevate Capital Advisors, LLC	1.20%	84,447	$2.2M
17	ShoreHaven Wealth Partners, LLC	1.19%	145,908	$3.8M
18	Pasadena Private Wealth, LLC	1.16%	351,755	$9.1M
19	EagleClaw Capital Managment, LLC	1.12%	320,872	$8.3M
20	Broadhurst Jeffrey B	1.10%	20,000	$519K
21	Ovata Capital Management Ltd	1.08%	551,872	$14.3M
22	Ascension Capital Advisors, Inc.	1.05%	144,683	$3.8M
23	Thryve Wealth Management LLC	0.87%	60,314	$1.6M
24	Mad River Investors	0.79%	81,517	$2.1M
25	Apriem Advisors	0.74%	330,202	$8.6M

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Grayscale Bitcoin Mini Tr Et (BTC)

What does the Smart Money Trend signal show for BTC?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their BTC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BTC?

Slight buying edge — 50% buying: Last quarter: 197 funds bought or added vs 199 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.

What is the fund quality score for BTC holders?

Smaller funds dominant — 14% AUM from top-100: 22 of 466 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held BTC?

Mostly new holders — 25% entered in last year: Only 9 funds (2%) 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.

Is it too late to buy Grayscale Bitcoin Mini Tr Et (BTC) following the 2026 Q2 hedge fund 13F filings?

As of today, BTC has moved +21.6% since the 2026 Q2 13F filing date (August 14, 2026), compared to -1.8% for the SPY sector ETF — an outperformance of +23.4%. Since the quarter end (June 30, 2026), BTC has gained +30.3% vs +2.1% for SPY. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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Grayscale Bitcoin Mini Tr Et (BTC)

Smart Money Signals — BTC

Selling streak — 2 quarters in a row

High ownership — 93% of 3.0Y peak

Steady growth — +4% more funds vs a year ago

Slight buying edge — 50% buying

Fewer new buyers each quarter (-25 vs last Q)

Mostly new holders — 25% entered in last year

Buying through price weakness — shares +27%, value -68%

Peak discovery — momentum slowing

Mixed cohorts — 1% veterans, 33% new entrants

Smaller funds dominant — 14% AUM from top-100

Institutional Sentiment Summary — BTC

What Fund Managers Are Saying About BTC

Hedge Fund Ownership: BTC

Market Analysis: BTC

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: BTC

Is It Too Late to Buy Grayscale Bitcoin Mini Tr Et (BTC) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: BTC

Statistics: BTC

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — Grayscale Bitcoin Mini Tr Et (BTC)

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