Tudor Investment Boosts Bitcoin ETF Stake Amid Shift to Direct Ownership

Paul Tudor Jones' macro hedge fund, Tudor Investment, has increased its position in BlackRock's iShares Bitcoin Trust ETF (NASDAQ:IBIT) by 18.9% during the second quarter.

The firm held 688,529 IBIT shares worth about $22.9 million as of June 30, up from 579,083 shares at the end of March.

This increase is relatively small against Tudor's more than $100 billion in assets, but it is significant because it reverses a year-long pattern of reducing its Bitcoin ETF exposure.

Tudor has changed its strategy for betting on Bitcoin by shifting from options toward direct ownership of IBIT. The firm cut its reported IBIT call-option exposure by roughly 85%, reducing the equivalent underlying shares from about 998,000 to 148,000.