Barclays reveals a stake in the BlackRock Bitcoin ETF

Barclays establishes itself as one of the leading institutional investors in the Bitcoin ETF sector. 

According to a 13F document filed with the Securities and Exchange Commission (SEC) last Thursday, the global investment bank revealed that it holds 2.47 million shares of the IBIT, the BlackRock Bitcoin ETF, with a total value of 131.2 million dollars as of December 31, 2024.

Barclays enters the Bitcoin ETF market with a significant position

This new participation represents an important turning point for Barclays, which in the previous quarter had declared only a minimal position in the Bitcoin Mini Trust ETF of Grayscale. 

Now, with a significantly higher investment in BlackRock’s IBIT, the bank confirms its growing interest in the cryptocurrency market, while maintaining a relatively contained exposure. 

In fact, despite the value of 131 million dollars, Barclays’ participation in IBIT represents only 0.04% of its overall portfolio, which amounted to 356.9 billion dollars at the end of 2024.

The acquisition of the stake in BlackRock’s Bitcoin ETF took place during the fourth quarter of 2024, a period marked by the re-election of Donald Trump, known for his favorable stance on cryptocurrencies. 

This political scenario may have influenced Barclays’ decision to increase its exposure to Bitcoin through a regulated ETF, rather than holding the cryptocurrency directly or relying on other more traditional financial instruments.

Barclays among the main investors in BlackRock’s IBIT

Barclays’ holdings in IBIT place it among the top ten holders of the ETF, according to Fintel data. 

However, the main known institutional investor of IBIT remains Goldman Sachs, with over 24 million shares valued at an estimated 1.3 billion dollars. Goldman Sachs has also invested 294 million dollars in the Fidelity Bitcoin ETF (FBTC), bringing the total of its holdings in Bitcoin ETFs to over 1.6 billion dollars. Other notable investors include Paul Tudor Jones’s Tudor Investment Corporation, DRW Securities, and the State of Wisconsin Investment Board.

The 13F documents are quarterly reports that the SEC requires from institutional investment managers with at least 100 million dollars in equity assets. These documents provide an overview of the stock holdings of major investors, offering insights into their market strategies. 

However, the 13F reports reveal only the long positions in U.S. stocks and options, without including any short positions or other derivative instruments, thus limiting the overall view of the strategies adopted.

The interest of Barclays in BlackRock’s IBIT highlights the growing recognition of Bitcoin ETFs by traditional financial institutions. 

The Bitcoin ETFs, approved by the SEC in January 2024, represented a turning point for the institutional adoption of the cryptocurrency, offering a regulated alternative to the direct purchase of Bitcoin. 

The participation of Barclays strengthens this trend, indicating a growing acceptance of cryptocurrencies by the traditional banking sector.

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Conclusion

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The acquisition of 2.47 million IBIT shares by Barclays highlights a strategic shift in the financial sector, with major banks beginning to explore the digital asset market more concretely. 

Although Barclays’ participation is still a small fraction of its total portfolio, its entry among the main investors of BlackRock’s IBIT could be a signal of greater openness of financial institutions towards Bitcoin ETFs and, more generally, towards the cryptocurrency sector.