Paul Tudor Jones Firm Boosts BlackRock Bitcoin ETF Stake

Paul Tudor Jones' hedge fund, Tudor Investment Corp, has increased its stake in BlackRock's spot bitcoin exchange-traded fund, reversing a trend of selling that had persisted over the past year, according to new reports. The move marks a notable shift in posture from one of Wall Street's most closely watched macro investors, whose views on bitcoin have long drawn market attention.

The decision to rebuild exposure to BlackRock's iShares Bitcoin Trust — the largest spot bitcoin ETF by assets under management — comes at a time when institutional appetite for regulated crypto products appears to be strengthening. Tudor's reversal could be read as a vote of confidence in both the asset class and the ETF wrapper that brought mainstream investors into bitcoin following the SEC's landmark approval of spot products in early 2024.

Read more Ross Gerber Questions SpaceX Valuation and Musk's Timelines Post-IPO →

Jones himself has been a long-running bitcoin advocate, famously describing it as a hedge against inflation and monetary debasement in years past. A renewed accumulation by his firm would align with that philosophical stance, even after a year in which the fund appeared to be trimming its crypto-linked holdings. The timing is significant given bitcoin's continued price resilience and growing acceptance among sovereign wealth funds and pension allocators globally.

The development underscores a broader pattern of institutional re-engagement with bitcoin ETFs after an initial wave of buying, a correction period, and now what some analysts describe as a second accumulation phase driven by long-term macro positioning. Whether Tudor's move triggers similar repositioning among peer funds remains to be seen, but the signal is hard to ignore given Jones' stature in global macro investing.

Continue reading at CoinDesk.