In what is a major development for the cryptocurrency industry, BlackRock’s Global Allocation Fund has disclosed $47.4 million in Bitcoin ETF holdings. Indeed, the $11 trillion asset manager has increased its iShares Bitcoin Trust (IBIT) shares by 91%, according to a new filing with the US Securities and Exchange Commission (SEC).
The official filing, made Thursday, shows that that fund has continued to increase its shares in the BlackRock-issued Bitcoin ETF throughout the end of last year. Specifically, the investment strategy has added 390,894 IBIT shares to its portfolio from November 2024 to January 2025.
JUST IN: BlackRock's Global Allocation Fund discloses $47.4 million in Bitcoin ETF holdings.
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BlackRock Global Allocation Fund Increases Bitcoin ETF Holdings By 91%
Since late 2024, the potential of the cryptocurrency market has been surging. Indeed, the asset class has remained a clear focus this year, with a host of nations seeking to implement favorable regulation that encourages its growth and development.
That has spurred several entities to increase exposure in the emerging industry. Among them is BlackRock’s Global Allocation Fund, which has disclosed $47.4 million in Bitcoin ETF holdings. The move is a part of a continued investment strategy, as holdings have increased from just 43,000 shares in April of 2024 to more than 390,000 shares added at the start of this year.
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The largest asset manager in the world, BlackRock, has firmly embraced Bitcoin investment. Specifically, it recently disclosed $78 million in IBIT shares across two different investment funds. Indeed, those were held by its Strategic Income Opportunities (BSIIX) and Strategic Global Bond (MAWIX).
The iShares Bitcoin Trust has received increased investment interest from hedge funds over the last year. With the asset classes expected to surge in value, increased exposure has been a focal point. Abu Dhabi has seen its sovereign wealth fund purchase nearly $437 million in Bitcoin ETF shares in Q1 of last year.