New data reveals that following this week's spot bitcoin ETF inflows, Blackrock's iShares Bitcoin Trust (IBIT) has accumulated 655,570.77 BTC (valued at roughly $70 billion), while Fidelity's Wise Origin Bitcoin Fund (FBTC) holds 200,712.72 BTC (approximately $21.43 billion). Together, the two funds control $91.43 billion in bitcoin.
Hedge Funds Pile Into Bitcoin ETFs
As spot bitcoin ETFs gain mainstream acceptance, several of the world's most powerful hedge funds have disclosed their holdings in IBIT and FBTC. This article breaks down the top five holders for each fund, revealing which Wall Street giants are leading the charge into digital assets. Notably, some firms also hold other bitcoin ETFs like GBTC, HODL, and BITB alongside their core positions.
FBTC's Top Five Hedge Fund Holders
Jane Street Group LLC leads the FBTC holdings with 7,239,363 shares as of March, including 358,500 calls and 119,400 puts, indicating a strong bullish bias. Close behind is New York-based Millennium Management LLC, holding approximately 6,955,712 shares with no associated options.
Third place goes to London-based Capula Management Ltd with 4,299,112 shares, maintaining a straightforward long position. Schonfeld Strategic Advisors LLC ranks fourth with 4,187,281 shares, down from 5,530,865 in September 2024. Fifth is Sculptor Capital LP (formerly Och-Ziff), which increased its FBTC stake from 801,950 shares at end-2024 to 2,188,727 shares today.
IBIT's Top Five Hedge Fund Holders
The largest hedge fund holder in Blackrock's IBIT is Brevan Howard Capital Management LP, which held 21,567,122 shares in 2025, down from 25,567,302 in Q4 2024. Goldman Sachs Group comes second with a total of 30,831,854 shares, comprising 23,378,954 direct shares, 1,445,200 calls, and 6,007,700 puts.
Millennium Management ranks third in IBIT with 18,100,456 shares, including 17,587,156 direct holdings and options positions. Fourth is Susquehanna International Group LLP with 29,868,970 shares split among calls, puts, and direct holdings. Fifth is Brooklands Fund Management Ltd, a boutique firm with a modest position of 15,300 shares.
Institutional Bitcoin Packaging Deepens
The growing presence of heavyweight hedge funds in these bitcoin ETFs signals a deepening alignment between traditional finance and digital assets. Their calculated exposure hints at broader strategic interest, not just in bitcoin itself, but in its institutional packaging. As capital continues to coalesce around these vehicles, the line separating legacy finance and crypto innovation grows thinner with each passing quarter.