Barclays Increases Stake in BlackRock Bitcoin ETF by 48% in Q3, Citigroup Establishes $119 Million FBTC Position

As of the end of Q3, Barclays held 3.94 million shares of the BlackRock Spot Bitcoin ETF (IBIT), an increase of 48% from 2.66 million shares at the end of Q2, with the position value rising from $88.5 million to approximately $187 million. Citigroup has established a new position of about $119 million in the Fidelity Bitcoin ETF (FBTC), with its IBIT holdings increasing by 50% from approximately 347,000 shares to about 521,000 shares. According to Bitwise data, among the 1,389 institutions that submitted Q3 13F filings, the total holdings of spot Bitcoin ETFs by banks increased from $107 million in Q2 to $258 million, with their share rising from 3.2% to 4.9%; investment advisors' holdings grew from $2.2 billion to $3.5 billion, accounting for 66.6%. The total holdings of spot Bitcoin ETFs by these institutions rose from $3.35 billion to $5.25 billion. JPMorgan, Wells Fargo, and hedge funds Millennium and Schonfeld have yet to disclose their positions, and institutions must submit their Q3 holdings reports by next Monday. Analysts noted that the price of IBIT rose by about 41% in Q3, and the increase in position value does not necessarily indicate new purchases by institutions, as the 13F filings reflect positions as of September 30 and do not account for Bitcoin's decline and outflows from spot ETFs. The net inflow into U.S. spot Bitcoin ETFs in Q3 was approximately $6.34 billion, while there was a net outflow of about $2.1 billion in Q4 up to this Tuesday.

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