Barclays increased its holding in BlackRock’s iShares Bitcoin Trust to 3.94 million shares, valued at $187 million, as banks expand exposure to spot Bitcoin ETFs.
Barclays disclosed a significant increase in its stake in BlackRock’s iShares Bitcoin Trust (IBIT) in its latest Form 13F filing, holding 3.94 million shares valued at roughly $187 million as of September 30. The position represents a 48% jump from the 2.66 million shares reported at the end of June, according to data shared with Cointelegraph.
Barclays’ move mirrors a broader trend among major banks. Bitwise data shows bank holdings of spot Bitcoin ETFs rose to $258 million, or 4.9% of all reported positions, in the third quarter, up from $107 million (3.2%) in the prior quarter. Citigroup also added a new $119 million position in the Fidelity Wise Origin Bitcoin Fund and increased its IBIT stake by 50% to about 521,000 shares.
Investment advisers remain the dominant owners, accounting for $3.5 billion (66.6%) of reported spot Bitcoin ETF assets, while banks’ share of the market is growing. The combined value of institutional spot Bitcoin ETF holdings climbed to $5.25 billion in Q3 from $3.35 billion in Q2, reflecting both higher share counts and a 41% price rise in IBIT during the quarter, according to PrimeXBT’s Jonatan Randin.
The filing deadline for the remaining institutional investors, including JPMorgan, Wells Fargo and hedge funds such as Millennium and Schonfeld, is approaching, and their disclosures could further clarify the extent of bank participation. Additionally, analysts note that the $187 million valuation reflects Bitcoin’s price rally in Q3; any subsequent price correction could affect the dollar value of these holdings. Monitoring net inflows and outflows for U.S. spot Bitcoin ETFs in the coming weeks will indicate whether the recent bank interest translates into sustained capital inflows.
It suggests banks are becoming more comfortable recommending spot Bitcoin ETFs to clients, expanding institutional exposure.
All institutional investment managers must submit their third‑quarter Form 13F filings by the upcoming Monday deadline.
Since the reported dollar amounts reflect market prices as of September 30, any price decline could reduce the valuation of the same share counts.
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