BlackRock adds Bitcoin ETF to its bond and income funds

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VIC Crypto
05-29
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BlackRock investment funds purchased shares of BlackRock's own Bitcoin ETF Spot in the past quarter.

BlackRock's bond and income funds bought shares of the asset manager's Bitcoin ETF Spot exchange-traded fund in the first quarter, according to SEC filings.

BlackRock's Strategic Income Opportunities Fund (BSIIX) bought a $3.56 million stake in iShares Bitcoin Trust (IBIT), while BlackRock's Strategic Global Bond Fund or Strategic Global Bond Fund (MAWIX) bought $485,000 worth, according to a U.S. Securities and Exchange Commission (SEC) filing on May 28.

IBIT is just a small part of the portfolios of BSIIX and MAWIX, which are valued at $37.4 billion and $776.4 million, respectively.

According to BlackRock data from May 24, IBIT currently holds $19.61 billion worth of Bitcoin.

The fund is second only to Grayscale Bitcoin Trust (GBTC), which converted to an ETF in early January, holding $19.76 billion as of May 28, according to Grayscale data.

Currently, Bitcoin ETF Spot globally holds a total of more than 1 million Bitcoin worth more than $68 billion, accounting for nearly 5.10% of the total of more than 19.7 million BTC in circulation.

More than 600 U.S. investment firms have purchased the Bitcoin ETF Spot since its launch in January, according to recent SEC filings.

Morgan Stanley, JPMorgan, Wells Fargo, Royal Bank of Canada, BNP Paribas, UBS and hedge funds including Millennium Management and Schonfeld Strategic Advisors are some of the leading firms that have purchased the Bitcoin ETF.

Millennium is the largest amasser of Bitcoin ETF Spot, with $1.9 billion invested, including $844.2 million in IBIT and $806.7 million in Fidelity Wise Origin Bitcoin Fund (FBTC).

On May 23, BlackRock was one of eight companies to have an Ethereum ETF Spot proposal approved in the United States, but the SEC must approve the companies' Form S-1 filings for these products to begin trading. .

VIC Crypto compiled

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