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BlackRock Increases Bitcoin Holdings to $17.1 Million in IBIT ETF, Among 35 Largest Funds

Dec 26, 2024, 08:17 PM

BlackRock Inc. has significantly increased its exposure to Bitcoin through its Global Allocation Fund, according to recent filings with the U.S. Securities and Exchange Commission (SEC). The fund now holds 430,770 shares of BlackRock's spot Bitcoin ETF, IBIT, valued at approximately $17.1 million. This represents a 117% increase from the 198,874 shares reported in July and over ten times the 43,000 shares held in the first quarter. Additionally, BlackRock recently purchased $10 million worth of Bitcoin ETF shares for its own portfolio. The IBIT ETF, which is among the 35 largest funds to ever launch, has amassed over $37 billion in positive net flows since its launch less than a year ago, making it a key player in the surge of US-traded spot Bitcoin ETFs, which have now surpassed gold ETFs in assets under management.