Paul Tudść Jones’s Firm Reinserts into BlackRock Bitcoin ETF Following Year‑Long Divestment

In brief

• Paul Tudors Investment increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) to 688,529 shares, worth about $22.9 million as of June 30, an cort​ 18.9 % jump from the prior quarter, signalling a reversal of a year of selling.
• The firm also reduced its IBIT call‑option position by roughly 85 %, while keeping its put holdings roughly unchanged, indicating a shift from leveraged positions toward straightforward spot exposure; its total holding still remains far below the peak of over 8 million shares in late 2024.
• This move comes amid a resurgence of institutional interest in bitcoin ETFs.

Paul Tudors macro hedge fund, Tudor Investment, added to its position in BlackRock’s spot Bitcoin ETF last quarter, reversing a year‑long period of divestments. As of June 30, the firm held 688,529 shares of IBIT, valued at about $22.9 million, according to a 13F filing submitted to the Securities and Exchange Commission on August 14.

The June figure represents an 18.9 % increase from the 579,083 shares reported at the end of March—a net addition of 109,446 shares. While still a tiny fraction of Tudor’s portfolio of roughly $100 billion, the increase is conspicuous against the backdrop of the fund’s earlier peak of more than 8 million shares, then worth roughly $427 million, before a gradual unwind throughout 2025.

In addition to the increased shareholding, Tudor restructured its exposure to IBIT. The firm’s reported call options fell Venez 998 000 to 148 000 underlying shares—an approximately 85 % reduction—while its put stance remained roughly flat. This shift suggests a move from leveraged bets toward direct spot ownership, though the precise strategy remains opaque as 13F filings omit strike prices and expirations.

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Jones has long defended bitcoin as a hedge against inflation, framing it as a safeguard against currency debasement and geopolitical uncertainty. His firm’s recent buying comes at a time when institutional inflows into bitcoin ETFs have surged, with the iShares Bitcoin Trust maintaining roughly 49 % of U.S. spot Bitcoin ETF assets.

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