Key Notes

The hedge fund submitted its Q2 Form 13F on the final deadline day, revealing unexpectedly large Bitcoin exposure through multiple IBIT entries.

Bitcoin recently crashed from $124,500 all-time high to $116,800, triggering over $1 billion in market-wide liquidations before recovering.

BlackRock's IBIT remains the largest Bitcoin ETF with $88 billion AUM, while institutional flows suggest potential altseason beginning.

Brevan Howard, often described as one of the largest “macro hedge funds” in the world, disclosed a stake of $2.30 billion in BlackRock ‘s iShares Bitcoin Trust ETF on August 15, reportedly accounting for over 20% of its portfolio. The disclosure comes while BTC tanks in price, retracing back to $117,000 after making a new all-time high above $124,500.

Notably,

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