BlackRock Adds 4,000 Bitcoin ETF Shares, Invests $222 Million in Strategic Global Bond Fund

Aug 26, 2024, 10:52 PM

BlackRock, the world's largest asset manager with $9 trillion in assets, has made a significant investment in its own Bitcoin ETF. The company added 4,000 shares of its spot Bitcoin ETF to its Strategic Global Bond Fund, increasing its holdings from 12,000 to 16,000 shares. BlackRock's website reveals that the Strategic Global Bond Fund now holds 32,000 shares of their Bitcoin ETF. This move is part of a broader strategy as BlackRock reportedly purchased $222 million worth of Bitcoin, a volume nearly eight times the newly mined supply, according to BBG. The investment reflects BlackRock's deepening involvement in the cryptocurrency market.