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Brevan Howard cuts Bitcoin ETF stake by 70%, shifts to options strategy.

Market News
17 Aug 2026
Crypto Briefing
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Bearish
Brevan Howard cuts Bitcoin ETF stake by 70%, shifts to options strategy.

Brevan Howard, a major macro hedge fund, reduced its direct Bitcoin ETF holdings by about 70%, now holding $255 million in BlackRock's iShares Bitcoin Trust (IBIT). The firm shifted from a large spot position to a complex options strategy, buying call and put options to maintain exposure while reducing direct ownership. This move reflects a broader trend among institutions favoring derivatives for flexibility over direct Bitcoin holdings. The change also impacts market dynamics, as options trading can indirectly influence Bitcoin ETF demand.

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