Key Takeaways
- • Barclays increased its holding of BlackRock's spot Bitcoin ETF by about 48% quarter over quarter, to 3.94 million shares valued at roughly $187 million at the end of September, according to a 13F filing reported by Cointelegraph.
- • Citigroup established a new $119 million position in Fidelity's Bitcoin ETF in the third quarter and raised its BlackRock Bitcoin ETF holdings about 50%, to 521,000 shares from 347,000.
- • Banks held about $258 million in spot Bitcoin ETFs per third-quarter filings, or 4.9% of total holdings, up from $107 million (3.2%) in the second quarter, according to Bitwise.
- • U.S. institutions that have disclosed third-quarter results held a combined $5.25 billion in spot Bitcoin ETFs, up about 56.7% from $3.35 billion in the second quarter.
Summary
Barclays raised its holdings of BlackRock's spot Bitcoin exchange-traded fund by nearly 50% from the prior quarter, adding to evidence of growing bank exposure to the product. Cointelegraph reported on November 11 that Barclays disclosed in a 13F filing that it held 3.94 million shares of the BlackRock Bitcoin ETF at the end of the third quarter, up from 2.66 million shares at the end of the second quarter. The position was valued at about $187 million at the end of September.
Citigroup also built a new $119 million position in Fidelity's Bitcoin ETF during the third quarter. Its holdings of the BlackRock Bitcoin ETF rose to 521,000 shares from 347,000 shares over the same period, an increase of about 50%.
According to Bitwise, banks held about $258 million of spot Bitcoin ETFs based on third-quarter filings, representing 4.9% of total holdings. That compares with $107 million, or 3.2%, in the second quarter. Bitwise analyst Kamran Khorshid said the filings show long-term investors making up a growing share of spot Bitcoin ETF holders, and noted that large banks and asset managers can now recommend Bitcoin ETFs to clients, a shift he expects to become more visible in future institutional filings.
Across the broader institutional base, 1,389 U.S. institutions that have disclosed third-quarter results held a combined $5.25 billion in spot Bitcoin ETFs, up about 56.7% from $3.35 billion in the second quarter.
Citigroup also built a new $119 million position in Fidelity's Bitcoin ETF during the third quarter. Its holdings of the BlackRock Bitcoin ETF rose to 521,000 shares from 347,000 shares over the same period, an increase of about 50%.
According to Bitwise, banks held about $258 million of spot Bitcoin ETFs based on third-quarter filings, representing 4.9% of total holdings. That compares with $107 million, or 3.2%, in the second quarter. Bitwise analyst Kamran Khorshid said the filings show long-term investors making up a growing share of spot Bitcoin ETF holders, and noted that large banks and asset managers can now recommend Bitcoin ETFs to clients, a shift he expects to become more visible in future institutional filings.
Across the broader institutional base, 1,389 U.S. institutions that have disclosed third-quarter results held a combined $5.25 billion in spot Bitcoin ETFs, up about 56.7% from $3.35 billion in the second quarter.
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