On July 10, 2025, Exchange Traded Concepts reported a sale of 1,243,500 shares of iShares Bitcoin Trust ETF (IBIT -0.77%), valued at $69.50 million, according to its latest Securities and Exchange Commission (SEC) filing.
What happened
According to the July 10 SEC filing, Exchange Traded Concepts reduced its position in iShares Bitcoin Trust ETF by 1,243,500 shares during the second quarter. The transaction, valued at $69.50 million, left the fund with 1,250,000 IBIT shares worth $76.51 million as of June 30, 2025. The sale decreased IBIT’s share of the fund’s 13F reportable assets under management to 0.94%.
What else to know
This was a sale, leaving IBIT at 0.94% of the fund’s 13F reportable AUM
Top holdings after the filing:
VOO: $424.24 million (5.2% of AUM)
GOOGL: $382.75 million (4.7% of AUM)
AAPL: $380.88 million (4.7% of AUM)
SPY: $352.72 million (4.3% of AUM)
SPLG: $350.68 million (4.3% of AUM)
IBIT closed at $64.50 on July 10, 2025; one-year return: 95.7% for the period ending July 10; one-year alpha vs. S&P 500: 83.08 percentage points
Shares are 0.5% below the 52-week high as of July 10, 2025
IBIT ETF overview
| Metric | Value |
|---|---|
| Market capitalization | $72.81 billion |
| Current price | $64.50 |
| 50-day moving average | $59.63 |
| One-year price change | 95.7% |
ETF snapshot
Shares are designed to track the price performance of Bitcoin (BTC -0.86%), providing exposure to that digital asset without direct ownership.
Operates a passive investment vehicle, generating revenue through management fees and asset-based charges.
Targets institutional investors, financial advisors, and retail investors seeking regulated, exchange-listed bitcoin investment products.
iShares Bitcoin Trust ETF provides a straightforward vehicle for gaining exposure to Bitcoin price movements via a regulated exchange-traded product. Its scale and liquidity position it as a preferred choice for investors seeking efficient access to the digital asset market without the complexities of direct cryptocurrency custody or trading.
Foolish take
With a portfolio dominated by relatively safe investments such as Apple and two of the largest S&P 500 index funds, Exchange Traded Concepts doesn't fit the usual profile of long-term Bitcoin investors.
According to recent 13F filings, the firm doubled its exposure to the Bitcoin ETF in the first quarter. The second-quarter sales brought Exchange Traded Concepts down to roughly the same ownership level it had at the end of 2024.
I don't love the idea of trading in and out of a volatile cryptocurrency position like Bitcoin. Some crypto investors might see a quarter as a long-term commitment, but I measure my long-term holdings in years and decades.
The investment firm's smaller Bitcoin position in the summer of 2025 looks like a particularly unfortunate choice, as the largest cryptocurrency (and spot Bitcoin ETFs) more than doubled over the last year, with a 40% boost in the last three months alone.
Then again, selling cryptocurrency-based investments in this unpredictable economy may not be a bad idea in the long run. Time will tell whether Exchange Traded Concepts will be better off with a smaller Bitcoin-based holding in the long run.
And of course, the firm could very well be buying shares of this ETF right now. The temptation to sell in a trough and buy when a stock or ETF gets hot is not limited to retail investors -- professional money managers often commit the same error. Exchange Traded Concepts' next 13F filing will tell us whether that is the case here.
Glossary
Post-trade holding: The number of shares or assets held after completing a transaction or trade.
13F reportable AUM: Assets under management that must be disclosed in quarterly SEC Form 13F filings by institutional investment managers.
ETF (exchange-traded fund): An investment fund traded on stock exchanges, holding assets like stocks, bonds, or commodities.
Alpha: A measure of an investment's performance relative to a benchmark, indicating outperformance or underperformance.
One-year return: The percentage gain or loss of an investment over a one-year period.
52-week high: The highest price at which a security has traded during the past year.
Moving average: The average price of a security over a specific period, used to identify trends.
Regulated exchange-traded product: A financial product traded on an exchange and subject to regulatory oversight, offering exposure to specific assets.
Digital assets: Assets that exist in digital form, such as cryptocurrencies like Bitcoin.
