Brevan Howard Becomes Largest Investor in BlackRock Bitcoin ETF Holdings

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Brevan Howard has disclosed a $2.32 billion stake in BlackRock’s Bitcoin ETF, surpassing Goldman Sachs as the largest reported shareholder.

BlackRock’s IBIT has grown rapidly, crossing $90 billion in assets and ranking among the largest exchange-traded funds in the United States.

Despite recent price declines, Bitcoin ETFs saw $523.7 million in net inflows on August 14, reflecting continued institutional demand.

Brevan Howard has expanded its exposure to Bitcoin through BlackRock’s exchange-traded fund, with new filings showing the hedge fund now holds $2.32 billion worth of IBIT shares. This marks a significant increase from earlier reports and positions the company among the largest institutional investors in the fund.

The May 2024 disclosure from the Securities and Exchange Commission indicated Goldman Sachs as the leading shareholder in IBIT with $1.4 billion invested. With Brevan Howard’s latest filing, the hedge fund now exceeds Goldman’s position, suggesting that it may have overtaken the banking giant as the largest shareholder of BlackRock’s Bitcoin ETF.

Broader Institutional Interest in Bitcoin ETFs

This development highlights the rapid pace at which large financial institutions are entering the Bitcoin ETF market. Harvard University’s endowment fund was recently revealed as another investor, with $116 million allocated to BlackRock’s Bitcoin ETF. That investment ranked Harvard as the 29th largest IBIT holder and reflected growing interest among traditional finance institutions.

BlackRock’s IBIT has experienced swift growth since its launch in 2023. The fund recently surpassed $90 billion in assets under management, making it one of the largest exchange-traded funds in the United States. Collectively, Bitcoin ETFs now hold $153.43 billion in assets, accounting for more than 6% of Bitcoin’s total market capitalization.

Institutional Commitment Despite Market Volatility

Despite a recent decline in Bitcoin prices, institutional inflows into ETFs have remained strong. On August 14, Bitcoin funds recorded net inflows of $523.7 million, according to SoSo Value. BlackRock and Grayscale were the only two issuers to post positive flows on that date, underscoring sustained institutional confidence in Bitcoin as an asset class.

The post Brevan Howard Becomes Largest Investor in BlackRock Bitcoin ETF Holdings appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

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