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Bitcoin ETF filings split Wall Street holdings into four distinct patterns
CryptoSlate tracked about $16.3 billion in Bitcoin ETF positions that resolved into four disclosed holder-and-instrument patterns after Q2 outflows.
CryptoSlate reports that about $16.3 billion in Bitcoin ETF positions it tracked ahead of Q2 filing deadlines resolved into four distinct, disclosed position patterns across filings published between Aug. 12 and Aug. 14. The filings each freeze reportable positions as of June 30, even though the managers’ complete hedge structures are only partially captured because Form 13F records long securities and some held options while omitting short positions and written options.
The outlet says two Abu Dhabi filers, JPMorgan, UBS, and Morgan Stanley showed different responses to Q2 pressure, with JPMorgan increasing its ordinary spot-ETF units, UBS shifting its disclosed long-options mix, and Morgan Stanley reducing external ETF units as a new branded wrapper appeared in its filing. In contrast, one sovereign pair held share counts steady into June 30, indicating valuation changes rather than reported share reductions.
CryptoSlate’s calculation cited from Farside Investors data shows the wider Bitcoin ETF complex recorded about $4.9 billion of net outflows during Q2, with about $2.1 billion of that amount coming in the final five trading sessions of June. The quarter-end snapshots also showed sovereign unit holders with unchanged share counts but lower reported market values, including Mubadala’s BlackRock iShares Bitcoin Trust position falling from $565.6 million to $490.1 million and Abu Dhabi Investment Council’s position dropping from $315.8 million to $273.6 million, or about 13.4% each.
The filings, as summarized by CryptoSlate, also note that identical unit counts across March 31 and June 30 do not rule out intra-quarter sales and repurchases, and they do not show any direct Bitcoin holdings. By June 30, the disclosed sovereign IBIT holdings matched their March 31 share counts, while JPMorgan’s spot Bitcoin ETF holdings rose from 8,462,883 shares in an amended Q1 restatement, according to the outlet.
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