Key players that experienced the most significant increases among major banks, asset managers, and quant funds:

• Bank of America Corp: +3.355M shares (+680.5%): aggressive buildup shows high conviction;
• Jane Street Group LLC: +785K shares (+473.1%): high-frequency trading desk entering strongly, with a recent and also significant increase in IBIT;
• Renaissance Technologies LLC: +732K shares (+324.1%): renowned quant powerhouse accelerating its position;
• Amundi: +3.779M shares (+373.7%): largest asset manager in Europe (global leader in the top 10, ~€2.3T AUM), a sign of strong confidence in the Bitcoin thesis via MSTR;
• UBS Group AG: +3.238M shares (+128.4%): more than doubled, targeting Bitcoin proxies;
• Capital International Investors: +5.601M shares (+37.3%): division of the giant Capital Group (one of the world's largest asset managers, focused on research-driven global equity), massive addition reinforces institutional interest;
• Capital Research Global Investors: +2.803M shares (+66.7%): another key division of Capital Group, solid growth in a research-driven fund;
• Vanguard Group Inc: +4.179M shares (+21.0%) – index giant steadily accumulating;
• Barclays Plc: +438K shares (+62.0%) – significant increase from a British bank;
• Morgan Stanley: +963K shares (+11.4%) – consistent addition via wealth management arm;
• Goldman Sachs Group Inc: +238K shares (+11.4%) – increase measured amidst greater interest;

Banks seem to use the Strategy as an efficient indirect route to Bitcoin exposure under Basel III (effective ~2026), since Bitcoin is a Group 2 cryptoasset with a risk weight of 1250% - multiplying exposure by 12.5x in risk calculations and basically requiring $1 of capital for every $1 of Bitcoin on the balance sheet. This discourages direct BTC holdings and makes proxies like MicroStrategy stock much more attractive from a regulatory standpoint.

Let's see the Q1 updates.