Barclays Discloses $131 Million Stake in BlackRock’s Bitcoin ETF Amid Growing Institutional Interest

Barclays, the global investment bank and financial services giant, has revealed a significant new position in BlackRock’s U.S. spot Bitcoin exchange-traded fund (ETF), IBIT. According to its Q4 2024 13F filing with the Securities and Exchange Commission (SEC), the firm now holds 2,473,064 shares valued at $131.2 million.

A Strategic Shift in Barclays' Portfolio

This acquisition represents a newly established position during the fourth quarter of 2024, including the period after the re-election of pro-crypto President Donald Trump. In its previous Q3 2024 filing, Barclays disclosed only a minor stake in Grayscale's Bitcoin Mini Trust ETF (BTC), which it has since exited.

Despite this notable increase in Bitcoin ETF exposure, the allocation to IBIT still constitutes just 0.04% of the bank’s $356.9 billion portfolio as of December 31, 2024.

Barclays Joins the Ranks of Top IBIT Holders

With this move, Barclays now ranks among the top 10 institutional holders of IBIT, according to data from Fintel. However, it remains far behind Goldman Sachs, which disclosed holdings of 24 million IBIT shares worth $1.3 billion. Goldman Sachs also owns $294 million of Fidelity’s FBTC, bringing its total Bitcoin ETF investments to more than $1.6 billion.

Other notable institutional investors include:

• Tudor Investment Corporation (Paul Tudor Jones)
• DRW Securities
• The State of Wisconsin Investment Board

Understanding 13F Filings and Bitcoin ETF Trends

13F filings are quarterly reports submitted to the SEC by investment managers overseeing at least $100 million in U.S. equity assets. These filings provide insight into the long positions held by institutions but do not disclose short positions, offering only a partial view of an institution’s strategy.

Since May 2024, institutional 13F filings have increasingly included Bitcoin ETFs, indicating growing mainstream acceptance of digital assets. Matt Hougan, Chief Investment Officer at Bitwise, recently described the initial allocations as “just a down payment” and projected that Bitcoin ETF holdings could rise to 1-5% of professional portfolios.

BlackRock’s Dominance in the U.S. Bitcoin ETF Market

BlackRock’s IBIT has emerged as the leading spot Bitcoin ETF in the U.S. market, attracting over $41 billion in net inflows since its January 2024 launch. As of the latest data from The Block’s Bitcoin ETF Tracker, IBIT boasts $56 billion in assets under management (AUM).