Institutional Divergence in Bitcoin ETFs: JPMorgan Increases, Morgan Stanley Decreases
13F filings dated June 30, 2026, revealed institutional divergence: Harvard held its IBIT position steady after two quarters of selling, Abu Dhabi funds maintained their shares, JPMorgan increased, Morgan Stanley decreased, and Tudor made purchases.
Quarter-end institutional portfolio reports showed that major investors are not moving in the same direction in Bitcoin ETFs. The data revealed that while some funds maintained their current positions, others increased or decreased their IBIT holdings.
Harvard Management Company reported 3,044,612 shares in BlackRock’s spot Bitcoin ETF, IBIT, with a value of $101.4 million as of June 30. The number of shares remained unchanged from the previous quarter, indicating that the institution halted its two consecutive quarters of selling.
Harvard Halts Selling, Abu Dhabi Funds Maintain Positions
Harvard had reduced its position by 21 percent in the final quarter of 2025 and by 43 percent in the first quarter of 2026. The institution completely exited the BlackRock spot Ethereum ETF it had purchased in the previous quarter. In contrast, its total position in gold-linked products reached $171.2 million, remaining above its IBIT holdings.
Abu Dhabi-based Mubadala Investment Company maintained 14,721,917 IBIT shares valued at $490.1 million, while the Abu Dhabi Investment Council held 8,218,712 shares valued at $273.6 million. The combined position of the two funds, totaling 22.9 million shares, was worth approximately $764 million. JPMorgan increased its shares from 8.3 million to 10.4 million, while Morgan Stanley decreased from 17.3 million to 16.5 million. Tudor Investment Corporation also raised its IBIT position to 688,529 shares and reported $23.8 million in put options.
13F filings show the long positions of institutions managing at least $100 million in equity assets traded on US exchanges at the end of the quarter; they do not cover private funds or short positions. Following reports on UBS’s own 13F data, these filings have clarified the divergence in direction within the institutional Bitcoin ETF landscape.