Tudor Investment increased its direct IBIT position by 109,446 shares in Q2, lifting those holdings 18.9%. The filing, however, pointed to a more mixed stance than the share purchase alone implies: its call-equivalent position fell 85.2%, while its put position barely changed. That combination suggests the firm added to its direct exposure but sharply reduced an options-based bullish position, leaving the overall filing less clearly bullish than the headline share increase might indicate.