Institutional Investors Flock to Bitcoin as Edelman and Tudor Reveal Significant Holdings
Edelman Financial Engines has disclosed a significant position in Bitcoin ETFs, with a stake of $34 million that now surpasses some of its holdings in major tech companies. This includes Amazon, which is valued at $25 million. The position is held in BlackRock's iShares Bitcoin Trust and Grayscale's flagship product.
Edelman has been advocating for Bitcoin ETFs since 2019, years before the SEC approved spot products in January 2024. He also founded the Digital Assets Council of Financial Professionals, an organization aimed at educating financial advisors on crypto and blockchain technology.
Tudor Investment Corporation, led by Paul Tudor Jones, has also revealed its Bitcoin holdings. The firm reported owning 688,529 shares of IBIT as of June 30, valued at $22.9 million. This represents a notable increase from the 579,083 shares Tudor reported the previous quarter.
Jones is known for his ability to read inflation cycles and their historical patterns, making the size of this investment particularly significant.