The latest news
Brevan Howard and Goldman Sachs strengthen positions
Brevan Howard nearly doubled its exposure to BlackRock's iShares Bitcoin Trust (IBIT), increasing from approximately 21.5 million shares in March to 37.5 million in June, representing a value of about $2.3 billion in BTC via ETF. This positions it as the largest institutional investor in IBIT.
Goldman Sachs, for its part, raised its combined exposure in BTC ETFs like IBIT and Fidelity’s Wise Origin Bitcoin Trust (FBTC) to nearly $3.3 billion, also including $489 million in iShares Ethereum Trust (ETHA).
Other major entities:
Harvard University holds about $1.9 billion in IBIT.
Abu Dhabi's Mubadala Investment Company holds about $681 million in IBIT.
Wells Fargo raised its exposure to nearly $160 million, while Cantor Fitzgerald acquired additional shares in IBIT and companies like MicroStrategy and Coinbase.
Why is it important?
1. Institutional validation of crypto
These acquisitions reflect greater confidence from traditional institutions in Bitcoin as a legitimate and regulated asset class.
2. Boost to traditional financial adoption
By using approved ETFs, these entities can gain exposure to BTC without owning it directly, making it easier for institutional capital to enter the crypto market.
3. Potential effect on the price of Bitcoin
Large inflows into ETFs could increase demand, pushing up the price of BTC. Additionally, they create a narrative of sustainability and legitimacy.
