Hedge Fund Giant Brevan Howard Reveals $2.3B BlackRock Bitcoin ETF Stake
Highlights
- The firm's 13-F filing shows that they hold a total of $2.3 billion shares in the Bitcoin ETF.
- This could mean that the Hedge Fund giant is now the largest shareholder.
- Institutions continue to gain Bitcoin exposure through the ETFs, with Harvard also recently reporting its IBIT holdings.
Hedge Fund giant Brevan Howard, with assets under management (AuM) of around $20 billion, has revealed an increase in its BlackRock Bitcoin ETF (IBIT) holdings. The firm is just one of the notable names that continue to gain BTC exposure through IBIT and other Bitcoin funds.
Brevan Howard Holds $2.3 Billion BlackRock Bitcoin ETF Shares
A 13-F SEC filing showed that the Hedge fund giant now holds $2.32 billion in IBIT shares. This also suggests that the company might now be the largest IBIT holder.
A May SEC filing had shown that Goldman Sachs was the largest IBIT shareholder at the time with $1.4 billion in BlackRock Bitcoin ETF shares. If that remains the case, then Brevan Howard has surpassed the banking giant to become the largest IBIT holder.
Meanwhile, this development underscores how traditional finance giants continue to gain exposure to Bitcoin through BlackRock’s IBIT and other BTC funds. CoinGape last week reported Harvard Endowment’s $116 million investment in BlackRock’s fund, making it the 29th largest IBIT holder.
These institutional investors also continue to show how bullish they are on BTC as BlackRock Bitcoin ETF and other BTC funds continue to record massive inflows. As CoinGape reported, IBIT just recently surpassed the $90 billion mark in terms of assets under management (AuM).
The Bitcoin ETF is now one of the largest funds in the U.S. despite just launching last year. Meanwhile, all the BTC ETFs combined hold $153.43 billion in net assets, which represents 6.54% of the flagship crypto’s market cap.
Despite the recent Bitcoin price crash, institutional investors like Brevan Howard doubled down on their investment in the BlackRock Bitcoin ETF. SoSo Value data shows that these funds recorded a net inflow of $523.7 million on August 14. The world’s largest asset manager was one of the only two issuers, alongside Grayscale, that recorded a net inflow.
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