PANews reported on December 27, citing Cryptoslate, that according to documents submitted by BlackRock to the U.S. Securities and Exchange Commission (SEC), as of October 31, its Global Allocation Fund holds 430,770 shares of the Bitcoin spot ETF IBIT, with a total value exceeding $17 million. This figure represents a 117% increase compared to the 198,874 shares reported on July 31, as noted by a user named MacroScope on X. Furthermore, the current reported number of IBIT shares is more than 10 times higher than the 43,000 shares registered in the first quarter.
The Global Allocation Fund is a diversified investment product from BlackRock, covering stocks, bonds, money market securities, and other short-term securities in both U.S. and foreign markets, with its portfolio being adjusted regularly. Despite BlackRock's doubling down on its Bitcoin products, the IBIT shares only account for 0.1% of the Global Allocation Fund's total size of $16.5 billion.