Macquarie Group dumps 62% of its Bitcoin ETF position, trimming holdings to $55M

Macquarie Group, the Australian financial giant with a market cap north of $50B, slashed its position in BlackRock’s iShares Bitcoin Trust ETF (IBIT) by roughly 62% during the second quarter of 2026. The firm now holds approximately 1.6 million shares worth between $53M and $55M, down from about 4.139 million shares valued at around $159M at the end of Q1. The move, disclosed in a 13F filing submitted around August 14, marks the second consecutive quarter Macquarie has pulled back from the world’s largest spot Bitcoin ETF. And the pace of retreat is accelerating. A pattern, not a one-off In Q1 2026, Macquarie trimmed its IBIT stake by roughly 19%. Cutting 62% in a single quarter is a different conversation entirely. Macquarie hasn’t publicly explained the rationale behind either reduction. No earnings call commentary, no press release, no executive interviews touching on the decision. One important caveat with 13F filings: they don’t distinguish between proprietary holdings and positions held on behalf of clients. So it’s possible Macquarie’s own conviction hasn’t changed at all, and the reduction reflects client redemptions or mandate changes. It’s also possible the firm is active...