Feb 26, 2026

New data compiled by Goldman Sachs Research indicates significant short positions against major cryptocurrency-related companies. The firms Strategy (MSTR) and Coinbase (COIN) rank first and fourth, respectively, in short interest as a percentage of market capitalization among companies valued at $25 billion or more, with figures of 14% and 10%.

This data, gathered from reported hedge fund holdings at the end of 2025, shows no notable change in hedge fund ownership for these two firms from the third to the fourth quarter. However, both have been among the weakest performers among top shorted stocks. Shares of MSTR have declined approximately 60% over the last six months, even with a…