Barclays boosts BlackRock Bitcoin ETF stake 48% as banks expand holdings

Barclays reported holding 3.94 million shares in BlackRock’s spot Bitcoin exchange-traded fund (ETF) at the end of the third quarter, up 48% from the previous quarter.

The position in the iShares Bitcoin Trust ETF (IBIT) was worth about $187 million on Sept. 30, up from $88.5 million for 2.66 million shares on June 30, according to Barclays’ Friday Form 13F filing.

“Early readings suggest longer-term holders make up a growing share of the spot bitcoin ETF investor base,” Bitwise analyst Camran Khosravi told Cointelegraph, pointing to increased bank exposure, including at Citigroup.

Citigroup reported a new position worth about $119 million in the Fidelity Wise Origin Bitcoin Fund (FBTC). Its reported IBIT holdings also rose 50% to about 521,000 shares, from 347,000 at the end of June.