BlackRock's Global Allocation Fund Discloses $47.4M in Bitcoin ETF Shares
In a major development for the cryptocurrency industry, BlackRock, the world’s largest asset manager, has increased its bitcoin investment. The company’s Global Allocation Fund has boosted its iShares Bitcoin Trust (IBIT) holdings, signaling growing institutional acceptance of Bitcoin.
BlackRock’s Global Allocation Fund now holds $47.4 million in Bitcoin exchange-traded fund (ETF) shares, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). Indeed, the $11 trillion dollar manager, through its Global Allocation Fund, revealed today that, as of April 30, it owned 43,000 shares of the iShares Bitcoin Trust.
According to reports, BlackRock’s Global Allocation Fund increased its exposure to Bitcoin (BTC) through its spot exchange-traded fund, iShares Bitcoin Trust (IBIT), by roughly 1,810%. This significant increase highlights the growing interest from institutional investors in Bitcoin ETFs.
BlackRock’s (NYSE: BLK) Global Allocation Fund has reported owning 821,664 Bitcoin exchange-traded fund (ETF) shares worth $47.4 million as of Jan. 31, 2025. Its Global Allocation Fund increased its Bitcoin exposure to $47.4 million as of January 31, almost doubling its previous holdings. This decision highlights the growing adoption of Bitcoin as an asset class.
The BlackRock Global Allocation Fund disclosed its ownership of 43,000 shares of the asset manager’s Bitcoin ETF in its recent SEC filing. Watcher Guru reported that BlackRock's Global Allocation Fund has disclosed that it holds $47.4 million worth of Bitcoin (BTC) spot Exchange traded funds.