Paul Tudor Jones Doubles Down on BlackRock's Bitcoin ETF

Billionaire hedge fund manager Paul Tudor Jones has significantly increased his fund's stake in BlackRock's Bitcoin ETF, according to new SEC filings. The move comes as the world's largest asset manager continues to expand its offerings in the cryptocurrency market.

Tudor Investment Corporation, Jones' fund, has doubled its holdings in the BlackRock iShares Bitcoin Trust (IBIT) from 4,428,230 shares to 8,048,552 shares. This increase has resulted in a substantial investment of approximately $445 million in the Bitcoin ETF.

Jones has previously expressed his bullish stance on Bitcoin, viewing it as a hedge against inflation and poor fiscal management by the government. In late 2021, he stated, "I think all roads lead to inflation. I'm long gold, I'm long Bitcoin, I think commodities are so ridiculously under-owned."

The BlackRock iShares Bitcoin Trust (IBIT) currently manages 583,122 BTC on behalf of its clients, valued at $56.86 billion. This significant investment by Jones further underscores the growing interest and confidence in Bitcoin as a viable asset class among institutional investors.