FinancePaul Tudor Jones Boosts Investment in BlackRock's Bitcoin ETF After Selling Off

Call options decreased by 85.2% to 148,000 shares, while put options fell by 1.4% to 715,000.

By Francisco Rodrigues|Edited by Aoyon Ashraf57 min ago2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on

Paul Tudor Jones in New York in 2018. (Kevin Mazur/Getty Images)

Summary

  • Tudor raised its IBIT stake by 18.9% to 688,529 shares, worth $22.9 million as of June 30.
  • This stake is still 91.4% lower than its peak in 2024 and constitutes about 0.03% of Tudor's reported 13F securities.
  • Jones has often positioned bitcoin as a hedge against inflation.

Paul Tudor Jones’ investment firm has increased its investment in BlackRock’s spot bitcoin ETF during the second quarter while significantly reducing its call option holdings.

According to a 13F filing made public on Friday, the firm held 688,529 shares of the iShares Bitcoin Trust ETF (IBIT), valued at $22.9 million as of June 30.

This represents an increase of 109,446 shares, or 18.9%, from the previous total of 579,083 at the end of March. Currently, these holdings are estimated to be worth approximately $24.5 million.

Additionally, Tudor reported a decline in its call options related to 148,000 underlying IBIT shares, which is an 85.2% decrease from the previous count of 998,000 in March. The number of put options also fell by 1.4% to 715,000 underlying shares from 725,000.

The filing does not specify the strike prices or expiration dates of the options, indicating that the share counts do not directly reflect Tudor's market positioning. These derivatives are likely employed as a hedging strategy for the firm's bitcoin investments.

Tudor first revealed ownership of 869,565 IBIT shares in mid-2024 and expanded his position to 8.05 million shares, valued at $427 million by the end of that year. However, the firm systematically reduced its stake in each quarter of 2025, finishing December with 576,523 shares.

The initial accumulation coincided with a rise in bitcoin's price from around $60,000 to $92,000, but subsequent reductions occurred as bitcoin's value surged to an all-time high of $124,000 in the second and third quarters of the previous year. As bitcoin's price began to decline, Tudor's share holdings also decreased.

Despite recent purchases, the current direct shareholding is still 91.4% below its peak in late 2024 and represents a mere fraction of the company’s overall portfolio valued at $71.9 billion.

Jones has consistently characterized bitcoin as a hedge against inflation. In 2024, he stated that “all roads lead to inflation” and indicated his preference for being long on both bitcoin and gold. Earlier this year, he referred to bitcoin as the “best inflation hedge”, emphasizing its limited supply as a key advantage over gold.