- BlackRock’s Global Allocation Fund now owns 43,000 shares of the iShares Bitcoin Trust.
- This marks the third internal BlackRock fund to invest in Bitcoin, following the Strategic Global Bond Fund and Strategic Income Opportunities Portfolio.
In sequence to BlackRock Updates Ethereum Spot ETF Filing, Preparing for Trading Launch on July 4th, as per CNF recent report, the latest filing with the SEC, BlackRock’s Global Allocation Fund revealed it owns 43,000 shares of the iShares Bitcoin Trust, marking the third internal BlackRock fund investing in Bitcoin.
According to MacroScope’s tweet from today, BlackRock’s Global Allocation Fund disclosed owning 43,000 shares of the iShares Bitcoin Trust as of April 30. This follows two filings that BlackRock made on May 28 disclosing Bitcoin exposure in its Strategic Global Bond Fund and in its Strategic Income Opportunities Portfolio.
In an SEC filing today, BlackRock’s Global Allocation Fund disclosed owning 43,000 shares of the iShares Bitcoin Trust as of April 30.
This follows two filings that BlackRock made on May 28 disclosing Bitcoin exposure in its Strategic Global Bond Fund and in its Strategic Income…
— MacroScope (@MacroScope17) June 27, 2024
Broader Investment Strategy
In details, Insight news platform explained this disclosure follows earlier filings about Bitcoin exposure in the Strategic Global Bond Fund and Strategic Income Opportunities Portfolio. BlackRock’s initiative, which began in March, aims to include Bitcoin ETFs in its Global Allocation Fund to reflect the digital currency market’s performance, focusing on ETPs listed on recognized exchanges.
This strategic move aligns with the fund’s broader approach to diversify investments throughout several assets, including Bitcoin ETPs.
For the record, it is known that BlackRock’s Global Allocation Fund, managing $17.8 billion in assets with a year-to-date return of 4.61% as of March 2024, seeks to capitalize on global investment opportunities while managing risk and pursuing long-term growth. Historical data on Bitcoin’s performance shows mixed results, with notable gains in green months and declines in red months.
Bitcoin’s Market Performance
Earlier, CNF highlighted that the performance of a Bitcoin ETF has been linked to the price of BTC since its introduction. Bitcoin has yielded returns of around 140% since the year began. At the time of writing, Bitcoin (BTC) trades at $61,442.69 with a modest increase of 0.52% in the past day and a decrease of 3.81% in the past week.
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