Paul Tudor Jones’ investment firm adds to IBIT stake after year of selling

Source: bitcoinethereumnews2026/08/15 23:14

Analysis

Tudor Investment's second-quarter 13F filing reveals a notable shift in how Paul Tudor Jones is expressing his bitcoin exposure. While the firm increased its direct IBIT share count by 18.9% to 688,529 shares, it slashed its reported call option position by 85.2%, a combination that suggests a move toward more straightforward spot exposure rather than leveraged derivatives. The put position remained nearly flat, indicating the options activity is likely part of a hedging strategy rather than a directional bet. This follows a pattern where Tudor built a large position through 2024, then trimmed it throughout 2025 before this quarter's reversal. The key question is whether this marks the beginning of a renewed accumulation phase or a one-quarter tactical adjustment. Investors should watch upcoming quarterly filings to see if the direct stake continues to grow and whether the options positions stabilize at these lower levels.

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Tudor Investment, founded by billionaire investor Paul Tudor Jones, increased its direct stake in BlackRock’s spot bitcoin ETF in the second quarter while cutting its reported call option position in the fund by 85%. The firm held 688,529 shares of the iShares Bitcoin Trust ETF (IBIT), valued at $22.9 million as of June 30, according to a 13F filing on Friday. The share count rose by 109,446, or 18.9%, from 579,083 at the end of March. The holdings are now worth around $24.5 million. Tudor also reported calls tied to 148,000 underlying IBIT shares, down 85.2% from 998,000 in March. Its put position edged down 1.4% to 715,000 underlying shares from 725,000, according to the filings. The filing does not disclose the options’ strike prices or expiration dates, so the underlying share counts do not provide a direct measure of Tudor’s directional exposure. And the derivatives positionings are likely a hedging mechanism for its bitcoin bets. Tudor first disclosed 869,565 IBIT shares in mid-2024 and increased the position to 8.05 million shares, worth $427 million by year-end. It then cut the stake in every quarter of 2025, ending December with 576,523 shares. Source: https://www.coindesk.com/business/2026/08/15/paul-tudor-jones-investment-firm-increases-blackrock-s-bitcoin-etf-stake-after-year-of-selling

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