Barclays Joins Top Investors in BlackRock’s Bitcoin ETF

Barclays has revealed a significant investment in BlackRock’s spot Bitcoin ETF, IBIT, acquiring over 2.4 million shares valued at approximately $131.2 million, according to its latest SEC filing.

This marks a notable shift for the financial giant, which previously held only a minor stake in Grayscale’s Bitcoin Mini Trust ETF before exiting that position. Despite the sizable allocation, it still accounts for just 0.04% of Barclays’ overall $356.9 billion portfolio as of the end of 2024.

With this move, Barclays has positioned itself among the top institutional holders of IBIT, according to data from Fintel. However, it remains far behind Goldman Sachs, which leads with over 24 million shares of IBIT worth around $1.3 billion, along with additional holdings in Fidelity’s Bitcoin ETF, bringing its total Bitcoin ETF exposure to more than $1.6 billion. Other major investors in the fund include Tudor Investment Corporation, DRW Securities, and the State of Wisconsin Investment Board.

Institutional investors managing at least $100 million in equity assets are required to disclose their holdings in quarterly 13F filings submitted to the SEC. These reports provide insight into long positions in U.S. equities but do not account for short positions, meaning they only offer a partial look at overall portfolio strategies.

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Since firms began disclosing their Bitcoin ETF holdings in May last year, Bitwise CIO Matt Hougan has suggested that these early investments represent just the beginning. He predicts that Bitcoin ETFs could eventually make up 1-5% of professional investor portfolios as adoption grows.

BlackRock’s IBIT has emerged as the dominant player in the U.S. spot Bitcoin ETF market, amassing over $41 billion in net inflows since its launch in early 2024. It currently manages around $56 billion in assets, solidifying its position as the largest fund in the sector.

Alexander Stefanov