Macquarie Group Trims Crypto ETF Holdings Amid Market Volatility

Macquarie Group, a major Australian financial services firm, has reduced its exposure to two popular cryptocurrency exchange-traded funds (ETFs) during the first quarter of 2025.

The company's holdings in BlackRock's spot Bitcoin ETF (IBIT) and Ethereum spot ETF (ETHA) were significantly cut back, with a 19% reduction in IBIT and a 9.5% reduction in ETHA.

The reductions are notable given Macquarie's previously significant position in these funds, which have been popular among institutional investors since their launch in early 2024.

Analysts point to several possible reasons behind the move, including profit-taking and risk management amid market uncertainty. Regulatory caution may also be a factor, with ongoing debates in the U.S. Congress and SEC about cryptocurrency oversight influencing the firm's risk appetite.