The new disclosure by Paul Tudor Jones that created Tudor Investment shows that the agency held a more direct hold on the belletco ETF-IBIT spot in the second quarter of this year, while significantly reducing the Fund’s viewing position by about 85 per cent. This means that its bitcoin-related exposure remains, but the way it is configured has changed significantly.

Increased stock in second quarter

Company disclosures indicate that Tudor Investment has increased its direct hold on IBIT. By contrast, the agency has significantly reduced the position in the direction created by the increase in options.

This adjustment indicates that the agency did not completely withdraw from the Bitcoin-related assets, but preferred to hold the ETF share directly and reduce the flexibility of the option instrument.

Last year, at the upswing stage, we reduced our silos.

According to the article, the price of bitcoin was rising from about $60,000 to $92,000 when Tudor Investment was initially established. Since then, as Bitcoin continued to grow, the agency began to reduce its exposure as it rose.

In the second and third quarters of last year, bitcoin rose to a historic high of $124,000. And just as it went up, Tudor kept cutting back the storage. By the time Bitcoin subsequently moved down, its share had also fallen to a low point.

Change in open structure

This second-quarter operation reflects the rhythm of Tudor Investment's bitcoin configuration again. This time, unlike the previous slowdown in power, the agency chose to increase the current ETF hold, but simultaneously significantly reduced its position.

In terms of the silo structure, it's more like replacing some of the high elastic tools with more direct spot ETF exposure. For the market, such disclosure is usually seen as a window to observe changes in the risk preferences and allocation patterns of traditional institutions.

  • Direct holding: IBIT share increased in second quarter
  • Suspended position: IBIT to see increase position reduced by approximately 85%
  • Historical background: a sustained reduction in prices following the Bitcoin escalation phase