Based on 57 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added BTCS 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 BTCS 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 — +185% more funds vs a year ago
fund count last 6Q
+37 new funds entered over the past year (+185% 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 — 73% buying
43 buying16 selling
Last quarter: 43 funds were net buyers (22 opened a brand new position + 21 added to an existing one). Only 16 were sellers (7 trimmed + 9 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~22 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 11 → 22 → 22. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 51% entered in last year
■ 21% conviction (2yr+)
■ 28% medium
■ 51% new
Only 12 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.
💎
Buying through price weakness — shares +83%, value -0%
Last quarter: funds added +83% more shares while total portfolio value only changed -0%. 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
6 → 6 → 11 → 22 → 22 new funds/Q
New funds entering each quarter: 6 → 11 → 22 → 22. 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 — 43% of holders stayed 2+ years
■ 43% veterans
■ 5% 1-2yr
■ 52% new
Of 60 current holders: 26 (43%) 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.
🏆
Elite ownership — 58% AUM from top-100 funds
58% from top-100 AUM funds
14 of 57 holders are among the 100 largest funds by AUM, controlling 58% of total institutional value in BTCS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
6.3
out of 10
Moderate Exit Risk
Exit risk score 6.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.