tl;dr
BlackRock has increased its investment in the spot Bitcoin exchange-traded fund (ETF) IBIT through its Global Allocation Fund, holding over $17 million worth of shares as of Oct. 31. The amount of shares reported is 117% larger than the previous filing and over 10 times higher than the first quarter...
BlackRock's Global Allocation Fund doubles down on IBIT exposure, holding over $17 million worth of Bitcoin shares, representing 0.1% of the fund's total size.
IBIT, a Bitcoin ETF, ranks among the 35 largest ETFs by assets under management and has amassed over $37 billion in positive net flows in less than a year since its launch.
BlackRock has increased its investment in the spot Bitcoin exchange-traded fund (ETF) IBIT through its Global Allocation Fund, holding over $17 million worth of shares as of Oct. 31. The amount of shares reported is 117% larger than the previous filing and over 10 times higher than the first quarter. Despite doubling down on its own Bitcoin product, the IBIT shares represent only 0.1% of the Global Allocation Fund’s $16.5 billion total size.
IBIT is among the 35 largest ETFs by assets under management and has amassed over $37 billion in positive net flows in less than a year since its launch, primarily responsible for the US-traded spot Bitcoin ETFs’ $35.4 billion inflows. The IBIT holds 527,284 BTC, worth over $50 billion at Bitcoin’s current price.
BlackRock reported holding 430,770 shares of its spot Bitcoin (BTC) exchange-traded fund (ETF) IBIT through its Global Allocation Fund. According to a filing with the US Securities and Exchange Commission (SEC), the shares amount to over $17 million as of Oct. 31. The amount of shares reported in BlackRock’s recent filing is 117% larger than the 198,874 shares reported on July 31 and over 10 times higher than the 43,000 shares registered in the first quarter.
The Global Allocation Fund is a BlackRock product that invests in equities from the US and foreign markets, debt, money market securities, and other short-term securities. Despite doubling down on its own Bitcoin product, the IBIT shares represent only 0.1% of the Global Allocation Fund’s $16.5 billion total size.
The IBIT is among the 35 largest ETFs by assets under management out of over 3,900 funds. It has amassed over $37 billion in positive net flows in less than one year since its launch, primarily responsible for the US-traded spot Bitcoin ETFs’ $35.4 billion inflows. The IBIT holds 527,284 BTC as of press time, according to ETF tracker heyapollo, which is worth over $50 billion at Bitcoin’s current price of $95,753.77.