Invesco Galaxy Bitcoin ETF (BTCO)

Accumulating

Strong institutional accumulation: ownership increased +6.65% quarter-over-quarter.

Data as of Q1 2026

Institutional Ownership

44.22%

QoQ Change

+6.65%

Total Value

$195.6B

Shares Outstanding

6.7M

Crowding AnalysisCrowded

Holders55of 5,944

Avg: 68

Uncrowded83th percentileCrowded

Institutional Activity

Buy/Sell Ratio0.84x

58th percentile

26 buying31 selling

New

-16

Closed

+595K

Net shares

Holding Period Distribution

estimate

Median: 3 QAvg: 3.1 QHolders: 55

Ownership Concentration

Top 5: 77.4%Top 10: 89.2%

Galaxy Digital24.3%

SUSQUEHANNA INTERNATIONAL GROUP, LLP23.0%

Gradient Investments15.7%

WELLS FARGO & COMPANY/MN8.6%

Cresset Asset Management,5.8%

Others (50)22.6%

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Conviction-Weighted Ownership

Median weight: 0.03%Avg weight: 0.61%Max: 4.23%High conviction (>1%): 2

Galaxy Digital

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Gradient Investments

WELLS FARGO & COMPANY/MN

Cresset Asset Management,

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Whale Moves Timeline (8 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWGalaxy Digital$49M725K shr

BOUGHTSUSQUEHANNA INTERNATIONAL GROUP, LLP$39M585K shr

NEWJANE STREET GROUP$4M52K shr

BOUGHTGradient Investments$3M51K shr

SOLDWELLS FARGO & COMPANY/MN$3M51K shr

NEWGradient Investments$36M415K shr

SOLDWELLS FARGO & COMPANY/MN$8M90K shr

NEWMEITAV INVESTMENT HOUSE$3M33K shr

BOUGHTSUSQUEHANNA INTERNATIONAL GROUP, LLP$3M31K shr

BOUGHTFarringdon Capital$1M17K shr

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Institutional Trends (8 Quarters)

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Institutional Holders

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