The latest 13F filings submitted to the SEC by the US revealed how hedge funds and large banks adjusted their positions in major Bitcoin ETFs in the third quarter, highlighting a shift in strategy and the growing popularity of crypto-supported assets.
According to Fintel data (as of September 30), nearly 700 institutional owners and shareholders collectively held 160.2 million shares of BlackRock IBIT. The ETF manages assets totaling $42 billion.
Millennium Management remains the largest holder of IBIT, increasing its stake by 12.6 million shares this quarter, bringing its total holdings to 23.5 million shares worth $848 million. The hedge fund also holds 11.6 million shares of Fidelity FBTC, valued at $644 million.
Capula, one of Europe's leading hedge funds, also increased its holdings, buying 1.1 million shares of IBIT ($308 million) and FBTC ($288 million).
Meanwhile, some investors reduced or exited their positions. Point72, under Steve Cohen, exited its positions in IBIT and FBTC, while Jane Street sold 6.4 million shares of IBIT. However, Jane Street still holds a significant amount in other Bitcoin ETFs, including ARK 21Shares Bitcoin ETF (ARKB), with 4.4 million shares ($283 million), ProShares Bitcoin ETF (BITO), with 6.9 million shares ($133 million), and FBTC, with 2.5 million shares ($142 million).
Tudor Investment Corporation, led by Paul Tudor Jones, holds over 4.4 million shares of IBIT, currently worth $230 million.
Goldman Sachs increased its holdings by 5.77 million shares of IBIT, bringing its total holdings to 12.7 million shares, valued at $710 million. This solidifies Goldman Sachs' position as the second-largest holder of IBIT.
Morgan Stanley reduced its holdings, selling 449,802 shares of IBIT, which decreased the value of its Bitcoin ETF portfolio from $203 million in the previous quarter to $183.39 million.
In contrast, JPMorgan only increased its holdings by 387 shares of IBIT ($13,982) and 213 shares of FBTC ($11,877), with total holdings close to $65,000. (The Block)

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