Brevan Howard Asset Management disclosed a US$2.3 billion stake in BlackRock’s iShares Bitcoin Trust, making the London-based macro hedge fund the largest institutional holder of the spot Bitcoin exchange-traded fund. A quarterly Form 13F filed with the U.S. Securities and Exchange Commission shows the firm owned 37.5 million IBIT shares valued at quarter-end on 30 June, up from 21.6 million shares three months earlier. The filing indicates that Bitcoin exposure now accounts for more than one-fifth of Brevan Howard’s roughly US$20 billion portfolio, underscoring accelerating institutional demand for the cryptocurrency via regulated U.S. ETFs that began trading in January. Other large investors also expanded positions. Wells Fargo grew its combined holdings of Bitcoin ETFs to about US$160 million in the second quarter, up sharply from US$26 million, while Abu Dhabi’s sovereign wealth fund declared a US$534 million allocation, according to separate disclosures. The steady inflows suggest that mainstream financial institutions are deepening bets on the digital-asset market despite continued price volatility and regulatory scrutiny.