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American multinational investment firm BlackRock Inc.’s is seeing a massive embrace of its spot Bitcoin ETF. Notably, the firm is personally fueling the adoption of iShares Bitcoin Trust. 
<h2 id="strong-blackrock-inc-s-ibit-as-biggest-bitcoin-fund-strong">BlackRock Inc’s IBIT as Biggest Bitcoin Fund&nbsp;</h2> 
According to a new filing with the United States Securities and Exchange Commission (SEC), BlackRock’s Global Allocation Fund owned a total of 43,000 IBIT shares as of April 30. 
This is followed by two additional filings that BlackRock made on May 28. As spotted by MacroScope, the firm disclosed Bitcoin exposure in its Strategic Global Bond Fund and in its Strategic Income Opportunities Portfolio. With all these acquisition, BlackRock’s IBIT has bagged the position of the <a href="https://coingape.com/blackrock-ibit-becomes-largest-bitcoin-fund-overtaking-grayscale/" target="_blank" rel="noopener">biggest Bitcoin fund</a> amongst its counterparts, even overtaking Grayscale GBTC. 
<blockquote class="twitter-tweet"> 
 In an SEC filing today, BlackRock’s Global Allocation Fund disclosed owning 43,000 shares of the iShares Bitcoin Trust as of April 30. 
 This follows two filings that BlackRock made on May 28 disclosing Bitcoin exposure in its Strategic Global Bond Fund and in its Strategic Income… 
 — MacroScope (@MacroScope17) <a rel="nofollow" href="https://twitter.com/MacroScope17/status/1806374143501471838?ref_src=twsrc%5Etfw">June 27, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
As of May 30, BlackRock’s spot Bitcoin ETF IBIT has amassed an impressive Asset Under Management (AUM) of nearly $19.79 billion. Grayscale’s GBTC on the other hand, saw its AUM decline by approximately $18 billion during the same period, standing at $19.75 billion. 
Up till now, IBIT keeps registering inflows which has contributed in helping it retain its leading position in the ETF market. On Tuesday, BlackRock’s IBIT registered zero inflows, which shows neutral interest from their institutional clients. However, its trading volume hit $1 billion as key competitors registered outflows. 
BlackRock’s IBIT currently has more than 300,000 BTC in AUM and the holding is currently valued at approximately $18.4 billion based on the market value of the coin at this time. 
Other spot Bitcoin ETF issuers are equally doing well, judging by the inflows that the ecosystem has seen in recent times. On June 26, <a href="https://coingape.com/bitcoin-etf-inflows-continue-ahead-us-gdp-data-whats-next-for-btc-price//" target="_blank" rel="noopener">Bitcoin ETF flows were positive</a>, totaling over $21 million. Fidelity Investments led the influx while BlackRock remained stagnant. Moreover, Grayscale’s GBTC registered positive flows after an extensive outflow streak. 
<h2 id="strong-more-spot-crypto-etfs-in-the-industry-strong">More Spot Crypto ETFs In The Industry&nbsp;</h2> 
Spot Ethereum ETFs have been approved by the United States SEC but it is yet to commence trading. 
The regulator has received S-1 amendments from the eight of the Ethereum ETF filers. This reflects their commitment to comply with regulations as they offer their client the potential offering. One of the investment asset management firm <a href="https://coingape.com/breaking-vaneck-files-form-8a-for-spot-ethereum-etf//" target="_blank" rel="noopener">VanEck</a> recently took its filing a step further by filing Form 8-A for the spot Ethereum ETF. 
Then there is the latest ETF news in the crypto ecosystem featuring Solana ETFs. VanEck sent out the <a href="https://coingape.com/vaneck-files-solana-etf-us-sec//" target="_blank" rel="noopener">first Solana ETF filing</a> in the U.S. to the SEC on June 27 and the expectation is that other firms will follow the trend. 
Read More: <a href="https://coingape.com/bitwise-drops-new-ad-tips-wider-blockchain-adoption//" target="_blank" rel="noopener">Bitwise Drops New Ad, Tips Wider Blockchain Adoption</a> 
The post <a href="https://coingape.com/blackrocks-premier-funds-embrace-ibit-in-big-win-for-bitcoin/">BlackRock’s Premier Funds Embrace IBIT In Big Win For Bitcoin</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

BlackRock’s Premier Funds Embrace IBIT In Big Win For Bitcoin

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