BlackRock's Bond-Focused Funds Purchase Shares in Firm's Own Bitcoin ETF
Summary:
BlackRock's Strategic Income Opportunities Fund and Strategic Global Bond Fund have invested in the company's own Bitcoin spot exchange-traded fund (ETF) in the quarter, in amounts of $3.56 million and $485,000, respectively. BlackRock's Bitcoin ETF holdings total $19.61 billion, trailing slightly behind Grayscale Bitcoin Trust's holdings of $19.76 billion. More than 600 US investment firms have purchased Bitcoin ETFs since their inception in January. Millennium Management leads Bitcoin ETF investments with a total of $1.9 billion in holdings. BlackRock recently received approval for a spot Ether (ETH) ETF bid.
During the first quarter, BlackRock's interest-bearing and bond-focused funds invested in their own Bitcoin (BTC) spot exchange-traded fund (ETF), according to regulatory documentation. BlackRock’s Strategic Income Opportunities Fund (BSIIX) acquired $3.56 million in iShares Bitcoin Trust (IBIT) shares, while the Strategic Global Bond Fund (MAWIX) invested $485,000, as revealed in Securities and Exchange Commission filings from May 28. In comparison to their respective total investment portfolios of $37.4 billion and $776.4 million, these shares of IBIT represent a small proportion. As per the May 24 data from BlackRock, IBIT currently possesses Bitcoin valued at $19.61 billion. This figure is just behind the Grayscale Bitcoin Trust (GBTC), which has holdings of $19.76 billion as per Grayscale's data from May 28. Presently, Bitcoin ETFs worldwide possess more than 1 million Bitcoin, approximated at over $68 billion. This amounts to nearly 5.10% of the total BTC circulation supply of over 19.7 million, cites CoinGecko. Since their introduction in January, over 600 US investment firms have invested in Bitcoin ETFs, as recent SEC filings disclose. Morgan Stanley, JPMorgan, Wells Fargo, Royal Bank of Canada, BNP Paribas, UBS along with hedge funds such as Millennium Management and Schonfeld Strategic Advisors represent some of these firms. Accounting for $1.9 billion, Millennium tops the list of Bitcoin ETF investors, which includes $844.2 million in IBIT and $806.7 million transferred to the Fidelity Wise Origin Bitcoin Fund (FBTC). On May 23, BlackRock, along with seven other firms, had its proposal for a spot Ether (ETH) ETF endorsed in the U.S., pending SEC approval of the firm’s Form S-1 filings for the products to become tradable.
Published At
5/29/2024 2:35:34 AM
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