Edelman Financial Engines, a registered investment advisor serving approximately 1.3 million clients, disclosed its position in a Bitcoin ETF in a Form 13F filing for the quarter ending June 30, 2026.
The $34 million Bitcoin allocation is modest (representing roughly 0.012% of the firm's total portfolio), but a more relatable comparison drew particular attention: it now surpasses the $25 million that Edelman holds in shares of Amazon — one of the world's largest public companies.
Edelman's allocation is split between BlackRock's iShares Bitcoin Trust (IBIT) — the largest spot Bitcoin ETF by assets — and Grayscale's flagship Grayscale Bitcoin Trust (GBTC). Both funds convert Bitcoin's price movements into the familiar format of a brokerage account, allowing advisors like Edelman to increase exposure to Bitcoin without needing to custody the asset directly.
Splitting the investment between two competing Bitcoin ETFs rather than concentrating it in one is a common institutional approach, allowing the advisor to diversify custodial and counterparty risks, much like working with two stockbrokers. Since the launch window opened in 2024, IBIT has captured the lion's share of new flows into spot Bitcoin ETFs, largely due to its lower fee structure, while the Grayscale trust still counts long-term holders like Edelman among its largest.
Finally, concurrently with Edelman, Tudor Investment Corporation — a $106 billion asset manager led by billionaire trader Paul Tudor Jones — also reported owning 688,529 shares of IBIT valued at $22.9 million, exceeding its previous quarter's holdings of 579,083 shares.
Part of a Broader Institutional Wave
JPMorgan increased its stake in IBIT to roughly $356 million from about $162 million three months prior and also initiated new positions in XRP. Asset manager UBS also more than quadrupled its position to nearly $90 million: from roughly 549,000 shares at the end of 2025 to roughly 2.5 million shares as of June 30 (a ~355% increase).
Banco Santander filed for a spot Bitcoin ETF for the first time ever, reporting 129,615 shares of IBIT worth $4.31 million. Moreover, across the industry, a total of 563 registered investment advisors collectively reported owning $3.5 billion worth of Bitcoin ETFs by mid-2026.
The next disclosure period will begin in mid-November, 45 days after the close of the third quarter, and will reveal whether Edelman (as well as the wider circle of advisors following JPMorgan, UBS, and Santander into spot Bitcoin ETF investing) continues to build positions or pauses, especially after a volatile quarter for cryptocurrencies.
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