Barclays increases BlackRock Bitcoin ETF holding 48 percent to $187 million
Citigroup also reported a new $119 million stake in Fidelity's Bitcoin ETF as institutional managers submit third-quarter disclosures ahead of a deadline on Monday.
Key takeaways
- 1Barclays held 3.94 million shares in BlackRock's Bitcoin ETF worth $187 million on Sept. 30, up 48 percent in share count from Q2.
- 2Citigroup reported a new $119 million position in Fidelity's Bitcoin ETF and raised its BlackRock ETF holding 50 percent to 521,000 shares.
- 3Total reported spot Bitcoin ETF holdings among 1,389 early 13F filers grew to $5.25 billion from $3.35 billion.
- 4Banks accounted for $258 million, or 4.9 percent, of early reported ETF holdings, up from $107 million in the previous quarter.
- 5Institutional investment managers have until Monday to file their complete third-quarter Form 13F reports.
Barclays expanded its holding in BlackRock's spot Bitcoin exchange-traded fund by 48 percent during the third quarter, reporting 3.94 million shares worth $187 million as of Sept. 30.
The position in the iShares Bitcoin Trust ETF grew from 2.66 million shares valued at $88.5 million held at the end of June, according to the bank's Form 13F regulatory filing. The rise in portfolio value reflects both additional share purchases and token price gains, with the ETF advancing about 41 percent during the three-month period ending in September.
Citigroup also expanded its cryptocurrency fund holdings over the same period. The bank disclosed a new position worth approximately $119 million in the Fidelity Wise Origin Bitcoin Fund. Citigroup also increased its holding in BlackRock's iShares fund by 50 percent to about 521,000 shares, up from 347,000 shares at the end of June.
The disclosures form part of the quarterly filing cycle required by the US Securities and Exchange Commission, where institutional investment managers overseeing more than $100 million report their equity holdings. The figures remain preliminary, with major institutions including JPMorgan, Wells Fargo, Millennium, and Schonfeld yet to submit their reports ahead of a filing deadline on Monday.
Early filings compiled by Bitwise across 1,389 institutional managers show combined spot Bitcoin ETF holdings rose to $5.25 billion at the end of the third quarter, compared to $3.35 billion three months earlier. Commercial banks accounted for $258 million of that total, representing 4.9 percent of reported positions, up from $107 million or 3.2 percent in the prior quarter.
Investment advisers retained the largest share of institutional holdings, controlling $3.5 billion or 66.6 percent of reported positions, up from $2.2 billion in the second quarter. Bitwise analyst Camran Khosravi said wealth management platforms at major banks are increasingly permitting advisers to recommend Bitcoin products to clients.
Market analyst Jonatan Randin of PrimeXBT cautioned that Form 13F filings reflect historical balances as of Sept. 30 and do not account for subsequent market activity. While US spot Bitcoin ETFs registered about $6.34 billion in net inflows during the third quarter, market data shows products experienced roughly $2.1 billion in net outflows in the fourth quarter through Tuesday.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.