Barclays And Citigroup Boost Spot Bitcoin ETF Holdings
Barclays reported a $187 million stake in BlackRock’s Bitcoin ETF as of Sept. 30, while Citigroup disclosed a $119 million position in Fidelity’s fund.
Major financial institutions expanded their exposure to spot Bitcoin exchange-traded funds during the third quarter, according to recent Form 13F filings submitted to regulators.
Barclays reported holding 3.94 million shares in BlackRock’s iShares Bitcoin Trust ETF at the end of the third quarter. The position was valued at approximately $187 million on Sept. 30, representing a 48% increase from the 2.66 million shares worth $88.5 million reported on June 30.
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Meanwhile, Citigroup disclosed a new position worth about $119 million in the Fidelity Wise Origin Bitcoin Fund. Citigroup's reported holdings in BlackRock's IBIT also increased by 50% to roughly 521,000 shares, up from 347,000 shares at the end of the previous quarter.
Institutional Exposure Rises
According to data shared with Cointelegraph by Bitwise, banks accounted for $258 million, or 4.9%, of reported spot Bitcoin ETF holdings among early third-quarter filers. This marks an increase from $107 million, or 3.2%, in the second quarter.
Investment advisers continued to form the largest segment of reported holders, accounting for $3.5 billion, or 66.6%, of reported positions. Across 1,389 institutions that filed their third-quarter reports by Friday, combined spot Bitcoin ETF holdings rose to $5.25 billion from $3.35 billion.
Bitwise analyst Camran Khosravi noted that financial advisers at major banks and wealth platforms are increasingly able to recommend Bitcoin ETFs to clients. The filings remain preliminary, as major holders including JPMorgan, Wells Fargo, and hedge funds Millennium and Schonfeld have deadlines approaching to disclose their third-quarter positions.
## Key facts
- Barclays held 3.94 million shares of BlackRock's IBIT worth $187 million as of Sept. 30.
- Citigroup disclosed a new $119 million position in Fidelity's FBTC fund.
- Banks accounted for $258 million, or 4.9%, of reported spot Bitcoin ETF holdings among early Q3 filers.
- Combined spot Bitcoin ETF holdings for reporting institutions rose to $5.25 billion from $3.35 billion.
Source: cointelegraph.com
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