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Tudor Jones boosts BlackRock’s spot bitcoin ETF stake after cutting options

The firm raised its IBIT share count by 18.9% to 688,529 shares, worth about $22.9 million as of June 30, while reducing its call option exposure by 85.2%.

Reported · Written up by our desk · Bitcoin

Paul Tudor Jones’ investment firm, Tudor Investment, increased its direct holding in BlackRock’s spot bitcoin ETF, the iShares Bitcoin Trust ETF (IBIT), during the second quarter, according to a recent 13F filing. Tudor held 688,529 IBIT shares valued at $22.9 million as of June 30, an 18.9% rise from 579,083 shares at the end of March.

The filing also showed a sharp reduction in Tudor’s reported call option position linked to IBIT. Calls fell 85.2% to the equivalent of 148,000 underlying shares, while puts edged down 1.4% to 715,000 underlying shares.

CoinDesk notes the filing does not include strike prices or expiration dates, meaning the underlying share counts alone do not provide a direct read on Tudor’s directional exposure. The outlet reports that derivatives positioning like this is likely used as a hedging mechanism for the firm’s broader bitcoin thesis.

Tudor has previously framed bitcoin as an inflation trade, and the firm described it as the “best inflation hedge” in April, pointing to bitcoin’s fixed supply. Despite the latest increase, the direct-share stake remains far below Tudor’s late-2024 peak, according to the filing.

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