Bitdeer Technologies Group bonds BTDR
Who owns Bitdeer Technologies Group's debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. BTDR stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 09175RAB6 | 5.25% fixed | 2029-12-01 | USD | 147.12 | — | — | 1 | $212K | May 2026 |
| 09175RAD2 | 4.875% fixed | 2031-07-01 | USD | 107.56 | 3.20% | -113 bp | 2 | $8.9M | Jul 2026 |
| 09175RAE0 | 4% fixed | 2031-11-15 | USD | 97.66 | 4.50% | 15 bp | 3 | $9.6M | Jul 2026 |
| 09175RAG5 | 5% fixed | 2032-03-01 | USD | 140.95 | -1.91% | -628 bp | 3 | $12.4M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 3 | $30.9M | 107.56 | 3.20% | -113 bp | 3 |
| Jun 2026 | 3 | $27.8M | 137.03 | -2.11% | -632 bp | 4 |
| May 2026 | 3 | $292K | 147.12 | — | — | 1 |
| Apr 2026 | 3 | $25.8M | 105.15 | 3.77% | -19 bp | 3 |
| Mar 2026 | 3 | $13.6M | 86.55 | 8.06% | 419 bp | 8 |
| Feb 2026 | 3 | $371K | 98.00 | 5.85% | 227 bp | 1 |
| Jan 2026 | 2 | $14.8M | 108.48 | 2.78% | -107 bp | 2 |
| Dec 2025 | 2 | $15.4M | 97.79 | 4.87% | 111 bp | 9 |
| Nov 2025 | 2 | $327K | 114.36 | 1.22% | -247 bp | 1 |
| Oct 2025 | 2 | $20.2M | 170.41 | — | — | 3 |
| Sep 2025 | 2 | $15.7M | 136.24 | -2.03% | -570 bp | 6 |
| Aug 2025 | 1 | $85K | 117.91 | 0.94% | -280 bp | 1 |
| Jul 2025 | 2 | $9.4M | 106.80 | 3.52% | -46 bp | 2 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 4 added, 3 cut, 0 new holders and 4 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $24.6M | $28.2M | $4.0M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $18.2M | $27.3M | $4.4M |
| Advent Convertible & Income Fund ADVENT CONVERTIBLE & INCOME FUND | 2026-07-31 | $2.0M | $2.4M | $436K |
| First Trust SSI Strategic Convertible Securities ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $338K | $367K | $0 |
| 1290 VT Convertible Securities Portfolio EQ Advisors Trust | 2026-06-30 | $200K | $309K | $0 |
| Digital Asset Debt Strategy ETF Tidal Trust I | 2026-05-31 | $144K | $212K | $0 |
| JNL Multi-Manager Alternative Fund JNL Series Trust | 2026-06-30 | $105K | $185K | $26K |
| Franklin Alternative Strategies Fund Franklin Alternative Strategies Funds | 2026-05-29 | $47K | $80K | -$229K |
| PACE Alternative Strategies Investments PACE SELECT ADVISORS TRUST | 2026-07-31 | $21K | $26K | -$37K |
| Lazard Enhanced Opportunities Portfolio LAZARD FUNDS INC | 2026-06-30 | $9K | $11K | -$29K |
| Bancroft Fund Ltd | 2026-06-30 | $0 | $0 | -$375K |
| Ellsworth Growth & Income Fund Ltd | 2026-06-30 | $0 | $0 | -$375K |
| Gabelli Convertible & Income Securities Fund Inc | 2026-06-30 | $0 | $0 | -$150K |
| TETON Convertible Securities Fund Teton Westwood Funds | 2026-06-30 | $0 | $0 | -$50K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Bancroft Fund Ltd ($375K), Ellsworth Growth & Income Fund Ltd ($375K), Gabelli Convertible & Income Securities Fund Inc ($150K), TETON Convertible Securities Fund ($50K).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 3 | $24.6M | $28.2M | 0.39% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 3 | $18.2M | $27.3M | 0.44% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 1 | $338K | $367K | 0.36% |
| DADS Digital Asset Debt Strategy ETF | 2026-05-31 | 1 | $144K | $212K | 2.18% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.04: safer than 7% of companies (7th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $1.76B |
| Debt barrier (short-term + ½ long-term debt) | $1.19B |
| Equity volatility (1 year) | 103.5% |
| Asset value / asset volatility (solved) | $2.85B / 66.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A -113 bp spread prices in about 0.0% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z'' = -0.20 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in BTDR's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 10 | $3.7M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 231 | $2.45B | 32 | $275.9M | 45 | $1.24B | 1 |
| 2026-03-31 | 175 | $914.4M | 26 | $129.0M | 33 | $188.7M | 0 |
| 2025-12-31 | 158 | $798.2M | 30 | $137.0M | 26 | $175.5M | 0 |
| 2025-09-30 | 149 | $952.2M | 24 | $212.3M | 27 | $239.0M | 0 |
| 2025-06-30 | 108 | $444.3M | 20 | $80.1M | 16 | $60.8M | 0 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.