Bitcoin ETF

Bitcoin

BlackRock

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Two BlackRock-managed funds have invested in the firm’s spot bitcoin ETF, IBIT, in Q1 2024.</li>
 <li>The IBIT ETF has attracted more fresh capital than any other spot bitcoin ETF since its launch.</li>
</ul>
<p>Two funds overseen by BlackRock have incorporated the company’s IBIT spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> ETF into their portfolios.</p>
<p>The information was disclosed in filings with the U.S. Securities and Exchange Commission.</p>
<h2 id="investment-details">Investment Details</h2>
<p>The BlackRock Strategic Income Opportunities and BlackRock Strategic Global Bond funds have reported purchasing shares in the spot bitcoin ETF, which was launched by the company in January.</p>
<p>The BlackRock Strategic Income Opportunities fund bought nearly $3.6 million worth of IBIT shares, while the BlackRock Strategic Global Bond fund invested $486,000 in IBIT shares in Q1 2024.</p>
<p>The IBIT exchange-traded fund has attracted more fresh capital than any other spot bitcoin ETF since its inception.</p>
<p>Although Grayscale’s spot bitcoin ETF has more assets under management than any of its competitors, this is due to the conversion of its flagship GBTC fund, which had nearly $30 billion in AUM at its launch.</p>
<h2 id="management-and-institutional-interest">Management and Institutional Interest</h2>
<p>Rick Rieder, the CIO of global fixed income at BlackRock, manages both funds that bought shares in the IBIT spot bitcoin ETF.</p>
<p>The first quarter of 2024 saw hundreds of traditional financial firms invest in spot bitcoin ETFs.</p>
<p>Bloomberg ETF analyst Eric Balchunas described it as “mind boggling” that over 400 institutions reported purchasing the newly launched IBIT spot bitcoin ETF.</p>

BlackRock Incorporates Company’s Bitcoin ETF into Two Key Funds in Q1

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