Brevan Howard and Goldman Sachs Increase Bitcoin ETF Holdings by Billions
Wall Street increased its exposure to bitcoin in Q2 by investing in spot bitcoin ETFs and related U.S. stocks, as detailed in SEC filings.
- Brevan Howard nearly doubled its position in BlackRock’s iShares Bitcoin Trust (IBIT) to 37.9 million shares, valued at over $2.6 billion.
- Goldman Sachs raised its stake in IBIT to $3.3 billion and held $489 million in the iShares Ethereum Trust (ETHA).
- Harvard University reported a $1.9 billion investment in IBIT, while Abu Dhabi’s Mubadala Investment Company holds $681 million.
- Wells Fargo's holdings of IBIT increased to $160 million from $26 million.
- Cantor Fitzgerald raised its investments to over $250 million, including stakes in companies like Strategy and Coinbase.
- Jane Street holds a $1.46 billion position in IBIT, its largest after Tesla.
Spot bitcoin ETFs like IBIT allow traditional investors to gain exposure without holding the cryptocurrency directly, facilitating participation through familiar brokerage accounts.
International Investments
Norway’s sovereign wealth fund now indirectly holds 7,161 BTC, an increase of 192% from last year. This exposure is mainly through shares in Strategy and other crypto-related firms.
Despite the growth, bitcoin-linked investments represent a small fraction of Norway's $2 trillion portfolio, valued at approximately $841 million or less than 0.05% of total holdings.