Edelman’s $34M Bitcoin ETF Holding Tops Its Amazon Stake

Edelman Financial Engines reported a $34 million position in spot bitcoin exchange-traded funds in its 13F filing for the quarter ended June 30, 2026, a stake that exceeds the firm’s $25 million holding in Amazon.

The filing shows the $34 million allocation is split between BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Grayscale Bitcoin Trust (GBTC). Edelman manages roughly $326 billion in client assets and serves about 1.3 million clients; the bitcoin ETF exposure represented about 0.012% of the firm’s total portfolio on the filing date.

Spot bitcoin ETFs hold bitcoin for shareholders and trade on traditional exchanges like stocks. That structure lets wealth managers add bitcoin price exposure to brokerage accounts without directly custodying the cryptocurrency. The filing reflects a practice among advisors of dividing allocations across competing ETFs to spread custody and counterparty risk.

IBIT has attracted the largest share of inflows since the first wave of spot bitcoin ETF launches in 2024, in part because of a lower fee structure. GBTC continues to hold long-tenured institutional owners that began accumulating before the new spot ETFs launched, which helps explain why some managers keep positions in both funds.

Several other institutions disclosed fresh bitcoin ETF positions for the same quarter. JPMorgan increased its IBIT stake to about $356 million from roughly $162 million three months earlier. UBS more than quadrupled its exposure to nearly $90 million, rising to about 2.5 million IBIT shares from roughly 549,000 at the end of 2025. Banco Santander reported 129,615 IBIT shares worth $4.31 million in its first spot bitcoin ETF filing. Tudor Investment Corporation held 688,529 IBIT shares valued at $22.9 million, up from 579,083 shares the previous quarter. In total, 563 registered investment advisors reported about $3.5 billion in bitcoin ETF holdings by mid-2026.

The next round of 13F disclosures is due in mid-November, 45 days after the close of the third quarter. 13F filings are required quarterly for institutional investment managers with more than $100 million in qualifying assets and provide a snapshot of public equity and similar holdings at quarter end.