Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Invesco Galaxy Bitcoin ETF (BTCO)

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

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -3
Streak
2Q ▼
Buyers last Q
43%

Smart Money Signals — BTCO

Based on 52 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 BTCO 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 — 81% of 3.0Y peak

81% of all-time peak
52 funds currently hold this stock — 81% of the 3.0-year high of 64 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 7% fewer funds vs a year ago

fund count last 6Q
4 fewer hedge funds hold BTCO compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 43% buying

23 buying31 selling
Last quarter: 31 funds reduced or exited vs 23 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
📈

More new buyers each quarter (+6 vs last Q)

new funds entering per quarter
Funds opening a new BTCO position: 13 → 11 → 8 → 14. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄

Mostly new holders — 35% entered in last year

■ 21% conviction (2yr+) ■ 44% medium ■ 35% new
Only 11 funds (21%) 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.
➡️

Steady discovery — ~14 new funds/quarter

16 → 13 → 11 → 8 → 14 new funds/Q
New funds entering each quarter: 13 → 11 → 8 → 14. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊

Mixed cohorts — 13% veterans, 42% new entrants

■ 13% veterans ■ 45% 1-2yr ■ 42% new
Of 53 current holders: 7 (13%) held 2+ years, 24 held 1–2 years, 22 (42%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅

Strong quality — 20% AUM from major funds

20% from top-100 AUM funds
9 of 51 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.

Institutional Sentiment Summary — BTCO

In 2026 Q2, 23 hedge funds were net buyers of BTCO (14 opened a new position, 9 added to an existing one), while 31 reduced or exited (14 trimmed, 17 sold completely) — a 43% buyer ratio, indicating roughly balanced activity. Net selling has persisted for two consecutive quarters. 20% of total institutional value in BTCO is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -3 funds (more exits than new entries). Total institutional holders: 52.

Hedge Fund Ownership: BTCO

How many hedge funds hold BTCO — quarterly history vs. share price
Quarterly hedge fund ownership of BTCO vs. share price

Market Analysis: BTCO

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BTCO

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

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Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

0 top-rated funds 2 high-conviction
Consensus
0.0
/ 10
breadth
×
Elite
1.3
/ 10
conviction
Hedge Fund Positioning: BTCO
51 + Investors

Track Smart Money conviction in BTCO. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 51 55 -7.27%
13F Shares 2M 3M -35.85%
Total Value $111M $196M -43.43%
New Positions 14 8 +6
Increased Positions 8 18 -10
Closed Positions 17 17 -
Reduced Positions 14 14 -
Total Calls 1 1 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: BTCO

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Institutional Holders (2026 Q2)

51 + investors

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

QUARTER:
Top 25 BTCO holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Galaxy Digital Inc. 2.50% 725,000 $42.3M
2 Farringdon Capital, Ltd. 2.45% 84,616 $4.9M
3 RM Financial Services, LLC 0.40% 9,296 $543K
4 Tolleson Wealth Management, Inc. 0.21% 21,530 $1.5M
5 Milestone Asset Management Group, LLC 0.17% 5,884 $344K
6 Key Client Fiduciary Advisors, LLC 0.17% 9,957 $581K
7 Financial Security Advisor, Inc. 0.04% 3,952 $231K
8 Cresset Asset Management, LLC 0.04% 172,095 $10.1M
9 Towarzystwo Funduszy Inwestycyjnych Pzu SA 0.03% 1,690 $99K
10 Meitav Investment House Ltd 0.02% 62,673 $3.7M
11 WCG Wealth Advisors LLC 0.02% 11,459 $669K
12 Synergy Investment Management, LLC 0.01% 962 $56K
13 Venture Visionary Partners LLC 0.01% 7,100 $415K
14 1620 Investment Advisors, INC. 0.01% 200 $12K
15 Thurston, Springer, Miller, Herd & Titak, INC. 0.01% 309 $18K
16 Quadrature Capital Ltd 0.01% 12,617 $737K
17 Fiduciary Financial Advisors 0.01% 1,020 $60K
18 Brookstone Capital Management 0.01% 9,552 $558K
19 Great Valley Advisor Group, INC. 0.01% 6,000 $350K
20 Geneos Wealth Management Inc. 0.00% 2,574 $150K
21 AdvisorNet Financial, Inc 0.00% 1,077 $63K
22 Private Advisor Group, LLC 0.00% 8,948 $523K
23 Wells Fargo & Company/Mn 0.00% 220,083 $12.9M
24 Cetera Investment Advisers 0.00% 35,582 $2.1M
25 First Trust Advisors LP 0.00% 50,654 $3.0M
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 — Invesco Galaxy Bitcoin ETF (BTCO)

What does the Smart Money Trend signal show for BTCO?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their BTCO 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 BTCO?

More sellers than buyers — 43% buying: Last quarter: 31 funds reduced or exited vs 23 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for BTCO holders?

Strong quality — 20% AUM from major funds: 9 of 51 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held BTCO?

Mostly new holders — 35% entered in last year: Only 11 funds (21%) 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.

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.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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