Edelman Financial’s $34M Bitcoin ETF Bet Tops Its Amazon Stake

A New Line in the Filing

Edelman Financial Engines, the registered investment advisor that serves roughly 1.3 million clients, reported its bitcoin ETF position in a 13F filing covering the quarter ended June 30, 2026.

The $34 million bitcoin allocation is small (amounting to roughly 0.012% of the firm’s total portfolio), but the comparison that stood out was closer to home, i.e. the stake is now larger than the $25 million Edelman holds in Amazon, one of the world’s largest publicly traded companies.

Edelman’s position 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 a familiar brokerage-account wrapper, letting advisors like Edelman add exposure without custodying the asset directly.

Splitting an allocation across two competing bitcoin ETFs rather than concentrating it in one is a common institutional approach, letting an advisor diversify custody and counterparty exposure the same way it would across two stock brokers. IBIT has pulled in the bulk of new spot bitcoin ETF inflows since the 2024 launch window thanks to its lower fee structure, while Grayscale’s trust still counts long-tenured holders like Edelman among its base.

Lastly, at the same time as Edelman, Tudor Investment Corporation, the $106 billion firm run by billionaire trader Paul Tudor Jones, also disclosed 688,529 IBIT shares worth $22.9 million, up from 579,083 shares the prior quarter.

Part of a Bigger Institutional Wave

JPMorgan has grown its IBIT stake to roughly $356 million, up from about $162 million three months earlier, while also adding fresh XRP exposure. Wealth manager UBS, too, more than quadrupled its position to nearly $90 million, up from about 549,000 shares at the end of 2025 to roughly 2.5 million shares as of June 30 (a jump of about 355%).

Banco Santander filed its first-ever spot bitcoin ETF disclosure, reporting 129,615 IBIT shares worth $4.31 million. Furthermore, across the industry, 563 registered investment advisors collectively reported $3.5 billion in bitcoin ETF holdings by the middle of 2026.

The next disclosure window opens in mid-November, 45 days after the third quarter closes, and will show whether Edelman (and the wider wave of advisors following JPMorgan, UBS and Santander into spot bitcoin ETFs) will keep adding, or pause their accumulation activities, especially after a volatile quarter for crypto).