In a significant development for the cryptocurrency sector, BlackRock’s Global Allocation Fund has revealed a substantial increase in its Bitcoin ETF holdings. The fund has disclosed $47.4 million in iShares Bitcoin Trust (IBIT) shares, marking a 91% rise in its holdings from November 2024 to January 2025. This move underscores BlackRock’s growing commitment to Bitcoin investments, as the world’s largest asset manager continues to expand its presence in the digital asset space.
The latest SEC filing shows that the Global Allocation Fund added 390,894 IBIT shares to its portfolio during this period, bringing its total holdings to 821,664 shares. This increase reflects a broader trend of institutional investors enhancing their exposure to cryptocurrencies, driven by favorable regulatory developments and growing market potential.
BlackRock’s strategic move aligns with its broader strategy to integrate Bitcoin into its investment offerings. The company has also allocated a 1% to 2% target to IBIT in its model portfolios, which manage $150 billion in assets. Additionally, BlackRock has disclosed $78 million in IBIT shares across its Strategic Income Opportunities and Strategic Global Bond funds.
The surge in institutional interest in Bitcoin ETFs is highlighted by significant investments from entities like Abu Dhabi’s sovereign wealth fund, which purchased nearly $437 million in Bitcoin ETF shares last year. As the cryptocurrency market continues to evolve, BlackRock’s increased involvement is expected to further legitimize Bitcoin as a viable investment option for mainstream investors.
