Bitcoin News Today: Brevan Howard Surpasses Goldman in IBIT Bitcoin Stakes

Wells Fargo & Co. has significantly expanded its exposure to Bitcoin ETFs during the second quarter of 2025, with holdings in the iShares Bitcoin Trust (IBIT) increasing from $26 million to over $160 million. This substantial rise was disclosed in a recent SEC filing and marks a strategic shift from client-focused offerings to direct institutional exposure. The bank also increased its positions in other major Bitcoin ETFs, including the Invesco Galaxy Bitcoin ETF (BTCO), Grayscale Bitcoin Trust (GBTC), and Grayscale Bitcoin Mini Trust (BTC), reflecting a broader and diversified approach to institutional Bitcoin exposure [1].

In addition to Wells Fargo, other institutional players have made notable moves in the Bitcoin ETF space. Choreo, a wealth management firm with over $27 billion in assets under management, entered the market with $6.5 million invested across multiple Bitcoin ETFs. Its largest holding was in BlackRock’s IBIT, with additional stakes in GBTC, BTC, and Fidelity Wise Origin Bitcoin ETF (FBTC). This filing positions Choreo among a growing cohort of institutional and wealth management firms integrating digital assets into their investment portfolios [2].

Brevan Howard, a leading alternative investment firm, emerged as the largest institutional holder of IBIT following its latest 13F filing. The firm increased its holdings from 21.9 million shares in Q1 to 37.5 million in Q2, surpassing even Goldman Sachs’ $1.4 billion stake in the ETF. This move aligns with broader institutional interest in Bitcoin, particularly as the asset continues to gain traction in both institutional and retail markets. Brevan Howard’s strategy reflects a growing trend of institutional Bitcoin accumulation, with firms like MicroStrategy and Tesla also expanding their Bitcoin reserves [3].

BlackRock’s iShares Bitcoin Trust (IBIT) remains the most dominant product in the space, with a market share of 77.27% of all spot Bitcoin ETFs and an asset under management (AUM) of $87.7 billion. The ETF has delivered a 77.7% return over the past year, driven by strong institutional demand and favorable macroeconomic conditions. The ETF’s net asset value (NAV) stands at $66.51, tracking Bitcoin via the CME CF Bitcoin Reference Rate [3].

The growing institutional presence in Bitcoin ETFs is supported by broader macroeconomic and regulatory developments. The recent approval of spot Bitcoin ETFs in the U.S. has opened new avenues for institutional investment, while favorable interest rate expectations and increased regulatory clarity have further bolstered demand. Additionally, the inclusion of cryptocurrency in 401(k) retirement plans, as announced by Donald Trump, has broadened the appeal of Bitcoin as a long-term investment. Analysts note that the current market dynamics, including low resistance levels on technical charts and a bullish momentum, could drive Bitcoin toward new all-time highs in the near term [3].

While Bitcoin dominates the conversation, some analysts are beginning to highlight the potential for Ethereum to outperform this cycle. Ethereum’s ecosystem is expanding with developments like Ethereum ETFs and Layer 2 solutions that enhance its utility in DeFi, NFTs, and smart contracts. These innovations, coupled with the broader crypto market’s momentum, could position Ethereum as a strong contender for growth in the coming months. However, such projections are based on current market conditions and should be interpreted with caution [3].

Source:

[1] Wells Fargo Quadruples Bitcoin ETF Holdings, Hits $160M (https://coincentral.com/wells-fargo-quadruples-bitcoin-etf-holdings-hits-160m-in-q2-filing/)

[2] Wealth manager Choreo discloses first Bitcoin ETF holdings (https://cryptobriefing.com/choreo-bitcoin-etf-holdings-report/)

[3] Brevan Howard Leads IBIT Bitcoin ETF Holdings (https://www.mitrade.com/insights/news/live-news/article-3-1045256-20250816)