BlackRock adds own Bitcoin ETF to income and bond funds
|BlackRock’s income and bond-focused funds have bought shares of the asset manager’s own spot Bitcoin (BTC $68,728) exchange-traded fund (ETF) in the first quarter, regulatory filings show.
BlackRock’s Strategic Income Opportunities Fund (BSIIX) snapped up $3.56 million worth of the iShares Bitcoin Trust (IBIT) while its Strategic Global Bond Fund (MAWIX) made a $485,000 purchase, according to May 28 Securities and Exchange Commission filings.
The IBIT shares are a fraction of BSIIX and MAWIX’s investment portfolios, respectively worth $37.4 billion and 776.4 million.
The BlackRock Strategic Income Opportunities Fund’s purchase of 88,000 IBIT shares. Source: SEC
IBIT currently holds $19.61 billion worth of Bitcoin, according to BlackRock data from May 24.
It only trails the converted Grayscale Bitcoin Trust (GBTC), which holds $19.76 billion as of May 28, Grayscale data shows.
Spot Bitcoin ETFs globally now hold over 1 million Bitcoin worth over $68 billion — equating to nearly 5.10% of its over 19.7 million BTC circulating supply according to CoinGecko.
More than 600 United States investment firms have bought spot Bitcoin ETFs since they launched in January, recent SEC filings revealed.
Morgan Stanley, JPMorgan, Wells Fargo, Royal Bank of Canada, BNP Paribas, UBS and hedge funds including Millennium Management and Schonfeld Strategic Advisors were some of the firm’s buying up Bitcoin funds.
Millennium is the largest spot Bitcoin ETF accumulator, with $1.9 billion invested, including $844.2 million into IBIT and $806.7 million into the Fidelity Wise Origin Bitcoin Fund (FBTC).
On May 23, BlackRock was one of eight firms to have its spot Ether (ETH $3,865) ETF bid approved in the U.S. but the SEC must approve the firm’s Form S-1 filings for the products to start trading.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.