Avenir, a Hong Kong-based investment firm, has sharply increased its exposure to Bitcoin by acquiring 3.4 million additional shares of BlackRock’s iShares Bitcoin Trust (IBIT) during Q1 2025, pushing its total holdings in the spot Bitcoin ETF to nearly $700 million.
According to a U.S. regulatory filing released Thursday, Avenir now holds 14.7 million IBIT shares, valued at $688 million as of March 31. The move marks a 30% quarter-over-quarter jump in the firm’s stake, signaling rising institutional conviction in Bitcoin-backed exchange-traded products.
IBIT now accounts for approximately 86% of Avenir’s entire investment portfolio, according to data from research platform Fintel. The firm’s aggressive allocation underscores a long-term strategic commitment to digital assets—first made clear in February, when Avenir publicly declared it had acquired roughly $599 million worth of IBIT shares in a single tranche.
While BlackRock’s ETF represents the core of Avenir’s crypto holdings, the firm also maintains a smaller position in the Fidelity Wise Origin Bitcoin Trust (FBTC), with about 52,500 shares valued at just over $4.2 million.
The expanded position places Avenir alongside a growing list of global institutions—such as Goldman Sachs and Morgan Stanley—that are steadily integrating spot Bitcoin ETFs into their investment strategies, lending further legitimacy to crypto as a mainstream financial asset class.
Avenir’s ETF Position Tops $863M Amid Asian Crypto Surge
Hong Kong investment firm Avenir now holds over $863 million worth of BlackRock’s iShares Bitcoin Trust (IBIT), based on recent market prices of $58.74 per share, according to Yahoo Finance. With 14.7 million shares in hand, the firm has cemented its position as one of the most aggressive institutional backers of spot Bitcoin ETFs to date.
Avenir’s continued accumulation reflects a broader trend sweeping through Asia, where financial hubs like Hong Kong and Singapore are increasingly aligning with digital asset innovation. The firm’s confidence also echoes growing institutional appetite for Bitcoin globally, spurred by a more favorable regulatory climate in the United States.
Since the U.S. Securities and Exchange Commission approved the first batch of ten spot Bitcoin ETFs in January 2024, the products have drawn over $41 billion in net inflows—despite recent slowdowns in daily trading volume, according to data from Farside Investors.
Spot ETFs allow institutions and retail investors alike to gain exposure to Bitcoin without handling the asset directly, offering regulated access to crypto in traditional brokerage accounts. As global markets adjust to this new wave of crypto-financial products, Avenir’s outsized commitment is seen by many as a sign of what’s to come.
Pro-Crypto Policies Fuel Institutional Bitcoin Bets
Avenir’s deepening investment in Bitcoin ETFs comes at a time of renewed institutional confidence, spurred in part by recent pro-crypto policy moves from the U.S. government. President Donald Trump’s latest executive orders—protecting the rights of Bitcoin miners and authorizing the establishment of a Strategic Bitcoin Reserve within the U.S. Treasury—have injected new momentum into the market. These directives align with Trump’s broader campaign narrative to position the United States as the world’s leading crypto and Bitcoin powerhouse.
Crypto adoption is also gaining momentum at the state level. Over a dozen states are currently evaluating bills that would allow them to allocate part of their Treasury reserves to Bitcoin, signaling a grassroots-level embrace of digital assets alongside federal support.
Against this backdrop, Avenir is strategically expanding its crypto footprint. In addition to its substantial stake in BlackRock’s iShares Bitcoin Trust, the firm launched its Crypto Partnership Program last fall—a $500 million initiative aimed at funding and collaborating with digital asset-focused quantitative trading teams around the world. The program underscores Avenir’s ambition not only to invest in crypto markets but to actively shape their institutional growth through global partnerships.
Quick Facts
- Avenir now holds 14.7 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), worth $688 million as of March 31.
- The position represents 86% of the firm’s portfolio and has grown by 30% quarter-over-quarter.
- At current prices, Avenir’s IBIT stake is worth $863 million, making it one of the largest institutional holders of a spot Bitcoin ETF.
- Avenir is doubling down on crypto amid rising support from the U.S. government and expanding its $500M Crypto Partnership Program to fund global digital asset teams.
