20 Best Cryptocurrency Stocks to Buy According to Hedge Funds

10. Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Number of Hedge Fund Holders: 52

Interactive Brokers Group, Inc. (NASDAQ:IBKR) is a multinational brokerage firm headquartered in Greenwich, Connecticut, and has offices in the US, Canada, the United Kingdom, Ireland, Switzerland, Hungary, India, China (Hong Kong and Shanghai), Japan, Singapore, and Australia. The firm was founded by its Chairman Thomas Peterffy in 1977. Direct access trade execution and clearing services are provided by the brokerage firm to institutional and professional traders for electronically traded products such as crypto, futures, options, stocks, currencies, bonds, gold, and funds.

Being in its 47^th year of operation, Interactive Brokers Group, Inc. (NASDAQ:IBKR) has evolved to become a global firm for global investors. The firm along with its affiliates executes approximately 2,350,000 trades per day. It works as a professional’s gateway to the global market with clients from over 200 countries investing globally. Interactive Brokers Group capitalizes on the current trend towards global investing across countries and product types. During the second quarter, the firm saw strong account growth, both institutional and individual, to its platform and successfully added 178,000 new accounts.

The firm’s net interest income reached a record in the quarter so did the pretax income. Commissions rose to $406 million while higher trading volumes were witnessed from the growing base of active customers. Another milestone for the brokerage firm was its reported pretax profit margin reaching at an industry-leading 72%. Over the past 5 years, Interactive Brokers Group has grown its revenue by 19.80% and its net income by 33.10%. This reflects the robust financial performance of the company.

A seamless global access to various securities for both institutional and individual investors, a solid market capitalization of $53.75 billion in the investment banking and brokerage industry, and a unique platform that has earned it recognition as a top broker deem Interactive Brokers Group a top crypto stock. As of the second quarter of 2024, the stock is held by 52 hedge funds. Orbis Investment Management was the company’s leading stakeholder.