Was the October 10 crash triggered by the Hong Kong-based fund Laurore LTD?

crypthub

2/19/2026, 12:02:44 AM

Bitcoin Crash & 13F Filings

The crypto community long wondered why Bitcoin fell sharply in October. Investors turned to quarterly 13F reports to see which funds moved in IBIT, BlackRock’s Bitcoin ETF. The latest filings revealed Laurore Ltd, a little‑known Hong Kong entity, holding 8.79 million shares worth about $436 million. Analysts highlighted the fund’s lack of public presence and its sudden appearance in the IBIT holder list.

Options Activity & Short Positions

Q4 filings showed Laurore built its stake after the crash, while major options makers dramatically increased long calls and puts on IBIT. The surge suggested a large, unseen short side that could amplify market moves. Since 13Fs only disclose long positions, the exact short exposure remains hidden. Some observers still suspect a concentrated short position may have contributed to the price plunge.

Laurore Ltd and Chinese Capital

Laurore’s registration under a common Chinese name and a prestigious Hong Kong address points to a professionally structured vehicle, likely a Cayman or BVI shell. This setup allows Chinese investors, who cannot hold Bitcoin directly, to gain exposure through a regulated US ETF. The filing illustrates how offshore entities bring institutional Chinese capital into Bitcoin while remaining under public scrutiny.