Hong Kong Firm Becomes Largest New IBIT Shareholder With $436M Stake

According to a year-end Form 13F filing with the U.S. Securities and Exchange Commission (SEC), Hong Kong-based Laurore Ltd. has emerged as the largest new shareholder of BlackRock’s iShares Bitcoin Trust (IBIT), disclosing a position valued at approximately $436 million.

The filing shows that Laurore holds 8.79 million shares of IBIT as of the reporting period, marking a significant institutional allocation into the spot Bitcoin ETF market.

Details From the SEC Filing

The Form 13F cover page identifies Laurore Ltd. as the institutional investment manager submitting the report. The total value of securities listed in the filing reflects a position of roughly $436 million tied to IBIT shares.

Form 13F filings are required for institutional investment managers overseeing at least $100 million in assets. They provide quarterly transparency into equity holdings, offering insight into capital allocation strategies among large investors.

The scale of this disclosure positions Laurore as the most prominent new entrant into IBIT’s shareholder base during the reporting period.

Institutional Demand for Spot Bitcoin Exposure

IBIT, launched by BlackRock, is one of the largest U.S. spot Bitcoin exchange-traded funds. It provides investors with regulated exposure to Bitcoin price movements without directly holding the asset.

A $436 million stake signals notable confidence in the ETF structure as a preferred vehicle for Bitcoin exposure. Rather than accumulating Bitcoin directly, institutional investors continue to favor exchange-traded products that offer familiar custody, reporting, and compliance frameworks.

The filing also arrives at a time when ETF flows have shown mixed signals across the market. While some products have experienced outflows in recent months, new large shareholders entering the space suggest that institutional interest remains active, albeit selective.

Broader Market Implications

Large 13F disclosures often serve as sentiment indicators within the institutional landscape. A position of this magnitude reflects strategic conviction rather than short-term trading activity.

As global capital continues to evaluate Bitcoin’s role within diversified portfolios, filings such as this highlight that major allocations are still being made through regulated ETF channels.

Whether this move represents a longer-term accumulation strategy or tactical positioning will likely become clearer in future quarterly disclosures.

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