BlackRock, a global financial giant, continues to expand its Bitcoin portfolio. In a recent SEC filing, the company's Global Allocation Fund revealed it owns an additional 43,000 shares of the iShares Bitcoin Trust as of April 30. This latest purchase follows previous filings that show BlackRock's interest in Bitcoin through its other funds. This signifies a broader strategy to integrate Bitcoin ETFs into their investment portfolio, highlighting their growing interest in the digital currency market. This move by BlackRock, along with other financial giants like Chase and Morgan Stanley, indicates a shift in the tide, as institutional investors increasingly embrace Bitcoin. A spot crypto ETF tracks the price of a specific crypto and invests portfolio funds into that crypto. These funds are traded on public exchanges but generally track a particular crypto. Investors can buy and sell these ETFs on regular stock exchanges through their brokerage accounts.
BlackRock's interest in Bitcoin dates back to March, when they filed with the SEC to include Bitcoin ETFs in their Global Allocation Fund. The fund aims to diversify investor portfolios through a wide range of assets, including equities, bonds, and Bitcoin ETPs. With $17.8 billion in assets under management and a year-to-date return of 4.61%, the fund aims to take advantage of global investment opportunities and deliver consistent gains over the long term.
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