Barclays boosts BlackRock Bitcoin ETF stake 48% as banks expand holdings
Barclays reported a $187 million stake as of Sept. 30, while Citigroup disclosed a new $119 million position in Fidelity’s Bitcoin ETF.
Barclays increased its stake in BlackRock's Bitcoin ETF by 48% to $187 million as of September 30, indicating a shift in institutional investment towards Bitcoin ETFs. Citigroup also expanded its holdings, acquiring a $119 million position in Fidelity's Bitcoin ETF and raising its IBIT holdings by 50% to 521,000 shares. This trend of growing bank involvement in Bitcoin ETFs suggests that more major financial institutions may follow suit.
Institutional investment managers are required to report their third-quarter holdings by Monday, with the total value of spot Bitcoin ETF holdings among early filers reaching $5.25 billion. Investment advisers, however, remain the largest holders, controlling 66.6% of reported positions. While Bitcoin ETF valuations have risen, it is crucial to consider the actual holdings in shares, rather than just the increase in dollar amount.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
