Mystery Hong Kong Investor in BlackRock Bitcoin ETF Emerges With $436 Million Stake
BlackRock’s iShares Bitcoin Trust (IBIT) is a U.S.-listed spot bitcoin ETF that provides institutional investors with a regulated investment vehicle. Laurore Ltd.’s disclosure of a large, concentrated position using a Hong Kong address prompted scrutiny of the source of its funds and highlighted the liquidity appeal of U.S. ETFs to major Asian investors.
Laurore filed a Form 13F with the U.S. Securities and Exchange Commission on January 28, 2026, disclosing that it held about 8.79 million IBIT shares worth $436 million as of December 31, 2025. A spokesperson said on February 23 that the position reflected a personal investment conviction. Hong Kong records also pointed to Zhang Hui, a director holding a mainland Chinese passport, but the ultimate beneficial owner remained undisclosed.
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The history behind this eventBlackRock Bitcoin ETF Posts $528 Million Outflow, Second-Largest on Record
BlackRock's iShares Bitcoin Trust (IBIT) quickly became the largest U.S. spot Bitcoin ETF after its January 11, 2024, launch. Its fund flows are regarded as an important gauge of institutional risk appetite, with large withdrawals typically adding pressure to Bitcoin's price and market liquidity.
IBIT recorded net outflows of about $528 million on July 15, its second-largest single-day outflow since launch. U.S. spot Bitcoin ETFs collectively lost more than $733 million that day. Escalating tensions in the Middle East and macroeconomic uncertainty boosted demand for safe-haven assets, while Bitcoin briefly fell below $75,000, indicating that institutional investors were reducing their crypto exposure.
BlackRock Bitcoin ETF Options Open Interest Surpasses Deribit in Market Milestone
BlackRock’s iShares Bitcoin Trust (IBIT) is a U.S. spot Bitcoin ETF whose options allow institutional investors to hedge or take leveraged positions in a regulated market. Its open interest has surpassed that of Deribit, the offshore platform that has long dominated crypto options trading, signaling a shift in market activity toward the U.S. traditional financial system.
As of Friday, July 17, 2026, open interest in IBIT options totaled $27.61 billion, formally surpassing Deribit and marking a major milestone for the U.S.-regulated Bitcoin options market. The figures show institutional capital is increasingly using ETF derivatives to trade Bitcoin and manage risk.
AI Fears Drive Crypto Lower as Mysterious Holder of BlackRock Bitcoin ETF Emerges
Anthropic's Claude Code has strengthened the automation of software development, fueling concerns that AI could erode the software and consulting businesses of traditional technology companies such as IBM. Selling in technology stocks spilled over into risk assets including Bitcoin. The identity of an offshore holder of BlackRock's spot Bitcoin ETF has also raised questions about Chinese capital flows and regulatory compliance.
Information compiled through July 19, 2026, showed that displacement fears sparked by Claude Code sent IBM shares plunging 11% in a single day. Bitcoin briefly fell to $64,000, with subsequent reports pointing to $63,000. Regulatory filings also revealed that Hong Kong entity Laurore Ltd. held $436 million in BlackRock's Bitcoin ETF, with its beneficiary linked to Chinese passport holders.
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