Based on 27 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added FTXG 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.
🔻
Below peak — only 36% of 3.0Y high
36% of all-time peak
Only 27 funds hold FTXG today versus a peak of 75 funds at 2023 Q2 — just 36% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📶
Steady growth — +17% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 54% buying
15 buying13 selling
Last quarter: 15 funds bought or added vs 13 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.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new FTXG position: 5 → 3 → 5 → 12. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 30% long-term, 48% new
■ 30% conviction (2yr+)
■ 22% medium
■ 48% new
Of the 27 current holders: 8 (30%) held >2 years, 6 held 1–2 years, and 13 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Value +181% but shares only +145% — price-driven
Last quarter: the total dollar value of institutional holdings rose +181%, but actual share count only changed +145%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈
Growing discovery — still being found
3 → 5 → 3 → 5 → 12 new funds/Q
New funds entering each quarter: 5 → 3 → 5 → 12. A growing number of institutions are discovering FTXG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 41% veterans vs 52% newcomers
■ 41% veterans
■ 7% 1-2yr
■ 52% new
Entry-cohort mix of 27 holders: 11 (41%) are 2+ year veterans, 2 entered 1–2 years ago, and 14 (52%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 14% AUM from top-100
14% from top-100 AUM funds
5 of 26 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.
Exit risk score 1.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.