Paul Tudor Jones’ Blackrock Bitcoin ETF Bet Hits $22.9M

A Growing Bitcoin Bet

Tudor Investment Corp, the Connecticut-based macro hedge fund Jones founded in 1980, disclosed 688,529 shares of Blackrock’s Ishares Bitcoin Trust (IBIT) in its latest 13F filing with the Securities and Exchange Commission (SEC). The stake was valued at $22.9 million as of the June 30 reporting date, marking an 18.9% increase from the 579,083 IBIT shares the firm reported for the prior quarter.

The steady build-out places Jones among a widening group of traditional asset managers using spot Bitcoin ETFs, rather than direct custody, to gain exposure to the asset. Tudor Investment Corp manages roughly $106 billion in assets, meaning the IBIT position remains a small sliver of the fund’s total book even after the latest addition.

From Inflation Hedge to ETF Buyer

Jones has been one of Wall Street’s most consistent bitcoin advocates for years, long calling the asset a hedge against monetary debasement rather than a speculative trade. In an October 2024 CNBC interview, he summed up his portfolio stance bluntly, noting:

“I’m long gold. I’m long bitcoin. I own zero fixed income.”

That long-standing thesis has increasingly translated into ETF ownership since spot Bitcoin funds launched in the United States in January 2024, giving hedge funds a way to hold bitcoin exposure inside existing custody and compliance infrastructure instead of managing private keys directly.

Jones’ bitcoin allocation is not a recent conversion. He first disclosed exposure to the asset in a May 2020 market note titled “The Great Monetary Inflation,” in which he revealed a low single-digit percentage allocation via bitcoin futures and argued that unprecedented central bank money printing made bitcoin “the fastest horse” in a race against inflation.

Five years later, that early futures position has evolved into a direct, growing stake in a regulated spot ETF, tracking both bitcoin’s move into mainstream portfolios and Jones’ own shift toward holding it through conventional fund structures.

IBIT remains the dominant vehicle for institutional players, with Blackrock’s fund commanding roughly 49% of total U.S. spot Bitcoin ETF assets, with total assets across all U.S. spot Bitcoin ETFs holding near $105 billion as of the second quarter.

For a fund the size of Tudor Investment Corp, a $22.9 million position is quite clearly not a bet-the-firm move; however, it is quite indicative of where market sentiment seems to be shifting. To this point, Jones’ consistent quarter-over-quarter growth signals that his bitcoin allocation has shifted from a symbolic gesture toward a standing line item in the portfolio.

That being said, whether that pace continues will become clearer when third-quarter 13F filings are due in mid-November, giving the market its next look at how Wall Street’s most prominent macro investor is sizing his BTC convictions.