Paul Tudor Jones boosts investment in BlackRock's Bitcoin ETF, increasing stake while reducing call options significantly.
Paul Tudor Jones’ investment firm has ramped up its holdings in BlackRock’s spot bitcoin ETF, the iShares Bitcoin Trust (IBIT), during the second quarter of 2023.
Significant Changes in Option Holdings
According to a recently released 13F filing, Tudor's firm now owns 688,529 shares of IBIT, valued at approximately $22.9 million as of June 30, marking an 18.9% increase from the previous quarter's 579,083 shares. The current value of these holdings is now estimated at around $24.5 million.
In contrast, the firm has notably reduced its call options, reporting only 148,000 shares, down 85.2% from 998,000 in March. Put options also saw a slight decrease of 1.4%, falling to 715,000 shares from 725,000.
The filing does not detail the specific terms of the options, which suggests that these derivatives are likely being used as a hedging strategy for the firm's bitcoin investments.
Jones initially acquired a larger stake of 869,565 IBIT shares in mid-2024, which peaked at 8.05 million shares worth $427 million by the end of that year. However, he has systematically reduced his holdings throughout 2025, concluding the year with 576,523 shares.
This reduction in shares aligns with fluctuations in bitcoin’s price, which rose from around $60,000 to a peak of $124,000 before declining. Despite the recent purchase, Tudor’s current holdings remain 91.4% below their late 2024 peak and constitute a minuscule part of the firm’s overall portfolio valued at $71.9 billion.
Jones has positioned bitcoin as a protective measure against inflation, previously stating, "all roads lead to inflation" and advocating for a long-term investment approach in both bitcoin and gold. Earlier this year, he referred to bitcoin as the "best inflation hedge," highlighting its limited supply as a notable advantage over gold.
