Bitcoin Bull Market Driver: BlackRock Global Allocation Fund's BTC Holdings Grow More Than Tenfold in Half a Year

BlackRock significantly increased its holdings in Bitcoin ETFs through its Global Allocation Fund. Although its allocation in the fund is only 0.1%, the rapidly growing size of its holdings indicates that Bitcoin is gradually transitioning from a non-mainstream asset to an important role in the traditional financial market. (Background: Bloomberg analyst: Dogecoin ETF may be seen after Trump takes office, is DOGE one dollar not a dream?) (Additional context: Crypto mom Hester Peirce: ETF physical redemption and staking are expected to start! US crypto regulation may become clearer) According to documents submitted by BlackRock to the US Securities and Exchange Commission (SEC) on October 31, the Global Allocation Fund holds 430,770 shares of the spot Bitcoin ETF (IBIT), with a market value exceeding $17 million. This figure has increased by 117% from the 198,874 shares at the end of July and is more than ten times the 43,000 shares held in the first quarter of this year. Nate Geraci, CEO of the rising star in the ETF market, ETF Store, emphasized that IBIT has seen a significant inflow of funds in less than a year, even surpassing many mainstream ETFs that have been around for years, such as iShares MSCI EAFE ETF and Vanguard Total World Stock ETF. In less than a year. You can't imagine how ridiculous that is. According to analysis from investment data platform Farside Investors, IBIT has seen a cumulative net inflow of over $37 billion since its launch, approximately three times that of Fidelity's spot Bitcoin ETF (FBTC). IBIT has also become a significant driver in the US spot Bitcoin ETF market, supporting a cumulative inflow of $35.4 billion in that market. Bitcoin moving towards mainstream investment assets The Global Allocation Fund is one of BlackRock's products, with a total scale of $16.5 billion, ranking among the top 35 largest products out of more than 3,900 ETFs globally. It adopts a diversified investment strategy that covers stocks, bonds, money market instruments, and other short-term securities in both US and international markets, with a professional trading team regularly adjusting its component allocation. Although Bitcoin's allocation as a non-traditional asset in the fund is only 0.1%, the scale of IBIT's holdings has shown remarkable growth. Based on the current Bitcoin price of about $95,000, the total number of Bitcoins managed by IBIT has reached 527,284, with a total value exceeding $5 billion, even surpassing the management scale of many gold ETFs. This indicates that Bitcoin is gradually becoming an important asset in the traditional financial market. With continued inflows of funds, its mainstreaming degree is expected to further increase in the future. If the allocation ratio continues to rise, the market for investing in Bitcoin will bring more room for imagination. Related reports Crypto mom Hester Peirce: ETF physical redemption and staking are expected to start! US crypto regulation may become clearer Bloomberg analyst: Dogecoin ETF may be seen after Trump takes office, is DOGE one dollar not a dream? The US SEC has approved the first batch of 'Bitcoin + Ethereum hybrid ETFs,' expected to be listed in January, with huge market demand "Bitcoin bull market driver) BlackRock Global Allocation Fund's BTC holdings grow more than tenfold in half a year" This article was first published in BlockTempo (BlockTempo - the most influential blockchain news media).