BlackRock has significantly increased its exposure to Bitcoin through its Global Allocation Fund. As of Oct. 31, the fund held 430,770 shares of iShares Bitcoin Trust (IBIT), a 117% increase since July 31. This move marks a notable shift in BlackRock's stance on cryptocurrencies. In the past, the asset manager has been cautious about investing in crypto, citing concerns about volatility and regulatory uncertainty. However, the recent surge in IBIT holdings suggests that BlackRock is becoming more comfortable with the asset class. Despite the increase in holdings, IBIT still represents a small portion of the Global Allocation Fund, accounting for just 0.1%. This indicates that BlackRock is still taking a cautious approach to crypto, but it also suggests that the firm sees potential in the long-term growth of Bitcoin.
BlackRock's iShares Bitcoin Trust Holdings Rise 117% Since Q3
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