BlackRock’s latest move into Bitcoin investment through its Global Allocation Fund has been disclosed, revealing ownership of 43,000 shares of the iShares Bitcoin Trust. This marks the third internal BlackRock fund to venture into Bitcoin, following similar moves by the Strategic Global Bond Fund and Strategic Income Opportunities Portfolio.
As reported by CNF, BlackRock’s Global Allocation Fund filed with the SEC, confirming its ownership of 43,000 iShares Bitcoin Trust shares. This announcement follows BlackRock’s filings on May 28, where it first disclosed Bitcoin exposure through its Strategic Global Bond Fund and Strategic Income Opportunities Portfolio.
MacroScope’s recent tweet confirms that as of April 30, BlackRock’s Global Allocation Fund holds 43,000 shares in the iShares Bitcoin Trust. This strategic investment aligns with BlackRock’s broader approach to diversify its portfolio across various assets, including Bitcoin ETPs traded on established exchanges.
BlackRock’s Global Allocation Fund manages assets totaling $17.8 billion and has shown a year-to-date return of 4.61% as of March 2024. The fund aims to capitalize on global investment opportunities while managing risk and seeking long-term growth.
Bitcoin’s market performance has been closely tied to the performance of Bitcoin ETFs, with gains reaching approximately 140% since the beginning of the year. Currently, Bitcoin (BTC) is trading at $61,442.