The diversified fund held 1,000,808 IBIT shares valued at $66.4 million as of July 31, up from 723,332 shares on Apr. 30.
BlackRock’s Global Allocation Fund increased its holdings in the firm’s spot Bitcoin ETF (IBIT) by 38.4% during the second quarter, according to a Sept. 26 SEC filing.
As of July 31, the diversified fund held 1,000,808 IBIT shares valued at $66.4 million, up from 723,332 shares on Apr. 30.
The addition of 277,476 shares represents the fund’s return to Bitcoin allocation after reducing exposure earlier this year.
Year-over-year growth demonstrates accelerating Bitcoin
$BTC adoption within BlackRock’s portfolio management. The fund held just 198,874 IBIT shares as of July 31, 2024, representing a 403% increase over the previous twelve months.
Targeting the 1%-2% range
IBIT represents 0.4% of the Global Allocation Fund’s $17.1 billion assets under management, a 62.5% increase from the 0.25% allocation recorded in the first quarter.
The current weighting marks substantial growth from the 0.1% position held in October 2024.
BlackRock recommended 1% to 2% Bitcoin allocation as a “reasonable range” in its model portfolio on Feb. 28, positioning the Global Allocation Fund below its target range.
The recent increases indicate movement toward this recommended exposure level through gradual and cautious accumulation.
The Global Allocation Fund invests across US and international equities, debt securities, money market instruments, and other short-term assets. Portfolio composition varies periodically in response to market conditions and investment opportunities.
BlackRock launched IBIT in January 2024 as part of the first wave of spot Bitcoin ETFs approved by the Securities and Exchange Commission. As of Sept. 25, the fund has the largest Bitcoin ETF, with nearly $61 billion in cumulative net flows.
The Global Allocation Fund’s methodical approach to Bitcoin allocation demonstrates institutional investment strategies for crypto exposure.
BlackRock continues building its position toward recommended portfolio weightings while managing volatility through gradual accumulation.
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