Based on 485 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added ETHA 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
485 hedge funds hold ETHA 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 — +196% more funds vs a year ago
fund count last 6Q
+321 new funds entered over the past year (+196% 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 — 56% buying
320 buying252 selling
Last quarter: 320 funds bought or added vs 252 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 (-143 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 61 → 68 → 284 → 141. 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.
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Mostly new holders — 68% entered in last year
■ 2% conviction (2yr+)
■ 30% medium
■ 68% new
Only 8 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 -26%, value -53%
Last quarter: funds added -26% more shares while total portfolio value only changed -53%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Acceleration phase — new buyers rushing in
106 → 61 → 68 → 284 → 141 new funds/Q
New funds entering each quarter: 61 → 68 → 284 → 141. 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.
🌱
Early stage — 87% of holders entered in last year
■ 2% veterans
■ 11% 1-2yr
■ 87% new
Of 519 current holders: 452 (87%) entered in the past year, only 8 (2%) 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 — 17% AUM from top-100
17% from top-100 AUM funds
17 of 485 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
6.7
out of 10
Moderate Exit Risk
Exit risk score 6.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.