Catenaa, Thursday, February 26, 2026- Hong Kong-based Laurore Ltd., emerged as the largest new shareholder of BlackRock’s iShares Bitcoin Trust ETF, according to a Form 13F filing with the US Securities and Exchange Commission submitted in January.
The filling disclosed 8.79 million shares worth roughly $436 million at the end of 2025,
IBIT traded near $38 in early 2026, implying the stake may now be valued around $334 million, a roughly 24% decline if the full position remains.
The filing does not detail when shares were acquired or whether any sales occurred.
Laurore appears largely unknown publicly. The disclosure lists Zhang Hui as the reporting filer and shows Hong Kong as its base.
Analysts suggest the firm may offer investors bitcoin exposure through regulated ETFs, possibly from jurisdictions limiting direct crypto access. Beneficial owners or capital sources were not revealed.
Market observers noted the firm appears to hold solely IBIT, describing it as a “bitcoin access vehicle dressed in institutional clothing.”
Institutional ownership of bitcoin ETFs continues to fluctuate amid market weakness. Abu Dhabi-linked funds held over $1 billion in IBIT at year-end, while Harvard Management Company retained roughly $266 million after trimming its position.
Research firm K33 said bitcoin’s current market structure resembles late-2022 bear market conditions preceding the last cycle low, though analysts warn a recovery may take time and expect prices to remain rangebound before a sustained rebound.
