Bitcoin ETF Holdings Rise as Barclays Boosts IBIT Stake 48%

Bitcoin ETF holdings expanded among early institutional filers as Barclays disclosed a 48% increase in its stake in BlackRock’s iShares Bitcoin Trust (IBIT) in third-quarter Form 13F filings. The bank reported 3.94 million IBIT shares worth about $187 million on Sept. 30, up from 2.66 million shares and $88.5 million at the end of June.

Citigroup also added exposure, disclosing a new position worth about $119 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC) and a 50% rise in IBIT shares to roughly 521,000. Bitwise said banks accounted for $258 million, or 4.9%, of reported spot Bitcoin ETF holdings among early third-quarter filers, up from $107 million, or 3.2%, in the previous quarter. Investment advisers remained the largest group, holding $3.5 billion of the $5.25 billion total reported by 1,389 institutions.

Why bank Bitcoin ETF exposure matters

Bitwise analyst Camran Khosravi said early filings suggest longer-term holders are becoming a larger share of the spot Bitcoin ETF investor base, helped by advisers at major banks and wealth platforms being able to recommend the products. The figures are preliminary, with JPMorgan, Wells Fargo, Millennium and Schonfeld still to report. Analysts also cautioned that part of the dollar increase reflects price gains: IBIT rose about 41% in the third quarter, while US spot Bitcoin ETFs later saw about $2.1 billion in net outflows in the fourth quarter through Tuesday.