Brevan Howard reduced its holdings in BlackRock’s spot Bitcoin ETF IBIT by about 70.4% in the second quarter, cutting the position to 7.21 million shares from 24.3 million. Graham Capital made a similar move, lowering its IBIT stake by about 72% to 259,000 shares from 926,000 over the same period. The changes were reported by Foresight News, citing SEC 13F filings, which disclose institutional equity holdings and are commonly used to track how large investment managers are adjusting exposure to products such as spot Bitcoin ETFs.