Hedge fund titan Brevan Howard has become the largest institutional investor in BlackRock’s iShares Bitcoin Trust (IBIT), boosting its holdings to 37.5 million shares worth $2.3 billion as of June 30, 2025, a significant jump from 21.5 million shares in Q1, underscoring growing traditional finance interest in crypto.

Brevan Howard Capital Management has emerged as the largest institutional holder of BlackRock’s iShares Bitcoin Trust (IBIT), according to US regulatory filings for the quarter ended June 30, 2025. The hedge fund increased its position to roughly 37 million IBIT shares, up sharply from about 21–22 million shares reported the prior quarter, lifting the value of its spot Bitcoin ETF exposure to around $2.3–$2.4 billion based on end‑June pricing and fund data. This made Brevan Howard one of the most significant single institutional backers of BlackRock’s spot Bitcoin product at mid‑year 2025, alongside other large asset managers using IBIT as a regulated vehicle for Bitcoin exposure. The move underscores how established macro and multi‑strategy hedge funds are increasingly using US‑listed spot Bitcoin ETFs as their primary route into crypto markets, instead of direct coin custody or offshore structures. BlackRock’s IBIT has become one of the largest and most liquid spot Bitcoin funds globally, providing institutional investors with familiar market, operational, and reporting frameworks. Subsequent filings in early 2026 show that Brevan Howard later rotated away from such a large spot position—cutting its IBIT stake by about 86% and replacing much of the exposure with options—illustrating how traditional hedge funds are actively trading, hedging, and reallocating within the new ecosystem of regulated Bitcoin products rather than simply “buy and hold” investing.

✨ AI-generated background, compiled from web sources — not editorial content.

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