Wall Street Increases Bitcoin Holdings

Wall Street increased its exposure to bitcoin in Q2, adding positions in spot bitcoin ETFs and U.S. stocks linked to bitcoin’s price, as per SEC filings.

Brevan Howard’s Holdings

Brevan Howard nearly doubled its shares in BlackRock’s iShares Bitcoin Trust (IBIT) from 21.5 million in March to 37.9 million by June, totaling over $2.6 billion. This positions Brevan Howard as one of the largest institutional holders of IBIT, alongside Goldman Sachs, which increased its IBIT stake to $3.3 billion and also held $489 million in iShares Ethereum Trust (ETHA). Goldman’s ETF ownership reflects positions by its Asset Management on behalf of clients.

Institutional Investments

Other notable investors in IBIT include Harvard University with a $1.9 billion stake and Abu Dhabi’s Mubadala Investment Company, holding $681 million. Wells Fargo ramped up its holdings from $26 million to $160 million and maintained a stake in Grayscale Bitcoin Fund (GBTC). Cantor Fitzgerald increased its investments to over $250 million while buying stocks in crypto companies like Coinbase (COIN).

Jane Street revealed a $1.46 billion stake in IBIT, its largest after Tesla, and also increased its per share stake in MSTR.

Spot Bitcoin ETFs

Spot bitcoin ETFs, like IBIT which launched in January, allow investors to access bitcoin’s price without holding crypto directly, enabling traditional institutions to participate through brokerage accounts.

Norway’s Investment Strategy

Norway’s sovereign wealth fund is gaining bitcoin exposure through U.S.-listed companies holding BTC. Norges Bank Investment Management (NBIM) now indirectly holds 7,161 BTC, a 192% increase from last year. However, this represents a tiny portion, valued at around $841 million, of its $2 trillion portfolio.

The fund’s investment strategy reflects growing institutional confidence in bitcoin without initiating a significant strategic shift yet.