Based on 17 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their YBTC 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 — 85% of 2.8Y peak
85% of all-time peak
17 funds currently hold this stock — 85% of the 2.8-year high of 20 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +6% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 55% buying
12 buying10 selling
Last quarter: 12 funds bought or added vs 10 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.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 9 → 5 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 41% entered in last year
■ 6% conviction (2yr+)
■ 53% medium
■ 41% new
Only 1 funds (6%) 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.
📊
Peak discovery — momentum slowing
7 → 3 → 9 → 5 → 4 new funds/Q
New funds entering each quarter: 3 → 9 → 5 → 4. YBTC is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 59% of holders entered in last year
■ 0% veterans
■ 41% 1-2yr
■ 59% new
Of 17 current holders: 10 (59%) entered in the past year, only 0 (0%) 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 — 1% AUM from top-100
1% from top-100 AUM funds
3 of 17 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.