Web3: Paul Tudor Jones' Fund Replenishes BlackRock's Bitcoin ETF

CoinWorld reported:

Company disclosures show that billionaire investor Paul Tudor Jones' macro hedge fund, Tudor Investment, increased its holdings in BlackRock's Bitcoin spot ETF—IBIT—last quarter, ending a year-long trend of reductions. Although the scale of this increase is not large, it is still seen by the market as a noteworthy signal amid renewed institutional interest in Bitcoin ETFs.

End of Continuous Reductions

According to the latest 13F filing, Tudor Investment replenished its IBIT holdings. However, this position still represents a very low percentage compared to the fund's overall management scale and is significantly below the peak at the end of 2024. At that time, the fund held over 8 million shares of IBIT, valued at approximately $427 million, before continuing to reduce its holdings in 2025.

This means that while the fund has repurchased, there is still a significant gap from its previous large-scale allocation.

Significant Reduction in Options Positions

The filing also shows that the fund adjusted its holdings in Bitcoin ETFs. Its call options linked to IBIT were reduced by about 85%, with the corresponding number of underlying shares dropping from 998,000 to approximately 148,000; the put options position remained roughly unchanged.

• Call options corresponding shares: Approximately 998,000 reduced to 148,000
• Put options: Overall change is minimal
• IBIT remains an important vehicle for its Bitcoin-related exposure

This change indicates that the fund may be reducing leveraged options bets and shifting towards more direct spot ETF holdings. However, the 13F filing does not disclose the options' strike prices or expiration dates, so the specifics of its trading arrangements remain unclear.

Institutional Funds Flowing Back into ETFs

Paul Tudor Jones has long viewed Bitcoin as a tool for hedging against inflation. He publicly expressed this view as early as 2020 and has repeatedly described Bitcoin as a choice for combating currency depreciation, considering it a hedge asset during periods of rising geopolitical risks.

This increase in holdings comes at a time when U.S. Bitcoin spot ETFs are experiencing a new wave of institutional interest. Reports indicate that as market expectations for interest rate hikes cool, related funds have attracted hundreds of millions of dollars in inflows over the past five trading days. IBIT remains one of the largest products in the U.S. spot Bitcoin ETF market, accounting for about 49% of total assets in this category.

Supplementary Information: The 13F filing reflects institutional holdings in U.S. stocks at the end of the quarter and typically does not disclose specific purchase prices, nor does it show options' strike prices and expiration dates.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.