Barclays Boosts BlackRock Bitcoin ETF Stake 48% as Banks Expand Holdings

Published November 11, 2026, 7:45 PM PKT. Based on Barclays' and Citigroup's Form 13F filings with the U.S. Securities and Exchange Commission (primary sources), and reporting by Cointelegraph, KuCoin News and EU Finance News (secondary sources).

Barclays raised its stake in BlackRock's spot Bitcoin ($BTC) exchange-traded fund by 48% in the third quarter, the bank's latest regulatory filing shows, as major banks steadily increased their exposure to Bitcoin through ETFs.

Barclays reported holding 3.94 million shares in the iShares Bitcoin Trust ETF (IBIT) at the end of the third quarter, up from 2.66 million shares on June 30, according to its Friday Form 13F filing. The position was worth about $187 million on September 30, up from $88.5 million at the end of June.

Citigroup moved in the same direction. The U.S. bank reported a new position worth about $119 million in the Fidelity Wise Origin Bitcoin Fund (FBTC), and raised its IBIT holding by about 50% to roughly 521,000 shares, from about 347,000 at the end of June.

The filings are an early read on how institutional ownership of spot Bitcoin ETFs changed in the third quarter. More major banks and hedge funds have yet to disclose their positions, with the deadline for third-quarter filings falling on Monday.

The Barclays filing, in numbers

Barclays' 3.94 million IBIT shares at September 30 compare with 2.66 million shares at June 30, a 48% increase in share count, Cointelegraph reported, citing the bank's Form 13F filing with the U.S. Securities and Exchange Commission.

The dollar value of the position more than doubled over the same period, from about $88.5 million to about $187 million, but that figure flatters the move. IBIT itself gained about 41% in price during the third quarter, so part of the value increase came from the market, not from new buying. The 48% rise in shares held is the cleaner measure of Barclays adding to its position.

Bitwise analyst Camran Khosravi told Cointelegraph that early readings suggest longer-term holders make up a growing share of the spot Bitcoin ETF investor base, pointing to the increased bank exposure, including at Citigroup.

Citigroup joins with a $119 million bet

Citigroup's filing shows the bank opening a new position of about $119 million in Fidelity's FBTC, alongside the roughly 50% increase in its IBIT holding to about 521,000 shares from about 347,000 at the end of June.

The two banks' moves fit a wider pattern in the early filings. Bitwise compared holdings across the 1,389 institutions that had filed their third-quarter reports by Friday, and found the value of their combined spot Bitcoin ETF holdings rose to $5.25 billion from $3.35 billion in the second quarter.

Investment advisers remained the largest holders, accounting for $3.5 billion, or 66.6%, of reported positions, up from $2.2 billion in the previous quarter, according to Bitwise data shared with Cointelegraph.

Banks are a small but fast-growing slice

Banks accounted for $258 million, or 4.9%, of reported spot Bitcoin ETF holdings among early third-quarter filers, up from $107 million, or 3.2%, in the second quarter, according to the Bitwise data.

The share is still small, but the direction is clear. Banks more than doubled their reported holdings in a single quarter, and Khosravi said financial advisers at major banks and wealth platforms can now recommend Bitcoin ETFs to clients, a development he expects to become increasingly visible in institutional filings over the coming quarters.

An October CoinShares survey found that diversification accounted for 40% of responses on why investors held digital assets, compared with less than 9% for speculation, a shift that fits the profile of bank and adviser buyers rather than short-term traders.

Share counts, not dollar values, tell the story

The headline dollar figures need a careful read. Jonatan Randin, senior market analyst at PrimeXBT, told Cointelegraph it is important to look at holdings in shares and not just the increase in dollar amount, noting that IBIT gained about 41% in price in the third quarter.

Randin also cautioned that the filings capture holdings as of September 30, before Bitcoin's subsequent decline and the outflows from spot ETFs. U.S. spot Bitcoin ETFs recorded about $6.34 billion in net inflows during the third quarter, followed by roughly $2.1 billion in net outflows in the fourth quarter through Tuesday, according to SoSoValue data.

That timing gap means the filings show banks buying into Bitcoin ETFs during a strong quarter, not their positions today. Whether they held, added or trimmed through the October and November selloff will only show up in the fourth-quarter filings, due early next year.

The filing deadline is Monday

The figures remain preliminary. Institutional investment managers have until Monday to file their third-quarter holdings reports, and major holders including JPMorgan, Wells Fargo and hedge funds Millennium and Schonfeld have yet to report their positions ahead of the deadline.

Their filings will show whether the bank buying was broad-based or concentrated in a few early reporters. Either way, the early data shows banks moving from the sidelines into spot Bitcoin ETFs in the third quarter, at a moment when advisers at those same banks can now recommend the products to clients.

Sources

• U.S. Securities and Exchange Commission, Barclays PLC Form 13F information table, third quarter 2026 (primary source: Barclays' filed holdings as of September 30, 2026, including its iShares Bitcoin Trust position)
• Cointelegraph, Barclays Boosts IBIT Stake 48% Ahead of 13F Filing Deadline, November 11, 2026 (secondary source: Barclays 3.94 million IBIT shares, up 48%, worth about $187 million; Citigroup new $119 million FBTC position and IBIT up 50% to about 521,000 shares, per the banks' Form 13F filings; Bitwise data on banks at $258 million, 4.9%, advisers at $3.5 billion, 66.6%, combined $5.25 billion across 1,389 filers; Khosravi and Randin quotes; Q3 inflows $6.34 billion and Q4 outflows about $2.1 billion per SoSoValue; filing deadline Monday; JPMorgan, Wells Fargo, Millennium and Schonfeld yet to report)
• KuCoin News, Barclays Increases BlackRock Bitcoin ETF Holdings by 48% in Q3, November 11, 2026 (secondary source: Barclays 3.94 million IBIT shares, up 48% from 2.66 million, worth about $187 million; Citigroup new $119 million FBTC position and IBIT up to about 521,000 shares; Bitwise comparison of 1,389 institutions, holdings up from $3.35 billion to $5.25 billion)
• EU Finance News, Barclays Significantly Increases Bitcoin ETF Holdings as Major Banks Expand Crypto Exposure, November 11, 2026 (secondary source: Barclays 48% increase in IBIT stake to about $187 million; Citigroup $119 million FBTC position)

This article is news reporting and is not investment advice.