What you need to know:
- Laurare emerges as the largest new holder of IBIT after a late-spotted SEC filing gains traction.
- IBIT’s stock of 8.79 million shares fell to $334 million, down 24% from its quarter-end valuation.
- Institutional IBIT shifts are intensifying as Abu Dhabi and Harvard funds report large holdings in the fourth quarter.
An offshore entity has become the largest new holder of Blackrock’s iShares Bitcoin Trust (IBIT) after a fourth-quarter filing attracted attention on Wednesday. The document became publicly available a week ago, but has gained steam after analysts began circulating it within financial circles.
Hong Kong-based Laurare Ltd. has revealed 8.79 million IBIT shares in a 13F form filed with the U.S. Securities and Exchange Commission on Jan. 28. The value of this holding is approximately $436 million as of December 31, 2025. Laurarore has become the largest newcomer to IBIT holdings in Q4 filings.
IBIT stock is attracting attention after a drop in valuation
The document began circulating after analysts reviewed the released documents. The importance has become significant because no other holdings have been reported by this entity.
The IBIT is currently trading at $37.61This is evident from data from Yahoo Finance. This would bring the company’s value to $334 million.
This represents a 24% decline in value since the end of the quarter if this position remains unchanged. The 13F form does not reflect intermediate transactions.
This filing has also come into the spotlight after ProCap Financial’s Chief Investment Officer Jeff Park mentioned it in his social media post. He said“Laurore appears to be exclusive to IBIT, which is notable because IBIT has had very little public presence.”
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The filing identifies the individual as Zhang Hui and the company’s base as Hong Kong. No information regarding the beneficial owners or capital used has been disclosed in the filing.
Source: X
Park emphasizes the use of ETFs in limited Bitcoin jurisdictions
Jeff Park said: “Some investors may seek to use US-listed ETFs as an entry point to gain exposure to Bitcoin in jurisdictions where they are not permitted to have direct exposure to the underlying asset.”
According to Jeff Park, “Laurore is a limited investment vehicle because it is essentially a single-purpose access configuration.” Some documents were also filed in the fourth quarter regarding changes in institutions’ positions regarding IBIT holdings.
Abu Dhabi-linked investment funds have disclosed more than $1 billion in IBIT holdings by year-end. After reducing its holdings during the quarter, Harvard Management Company unveiled $266 million in iShares Bitcoin Trust.
K33, a research firm, said in its report statement Wednesday that Bitcoin’s current market structure is the same as conditions at the end of 2022, and the recovery could take some time, with the crypto asset trading price remaining in a range until sentiment improves.
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