BlackRock’s Global Allocation Fund has significantly increased its holdings in the Bitcoin spot ETF (IBIT), reaffirming its strong position in the cryptocurrency investment market. In a recent report submitted to the SEC, BlackRock disclosed that it holds 430,770 shares of IBIT, valued at approximately $17 million. This represents a 117% increase compared to the end of July and a more than tenfold increase since the beginning of the year, highlighting BlackRock’s growing interest in the cryptocurrency market.
Although IBIT accounts for just 0.1% of the Global Allocation Fund’s portfolio, it has achieved remarkable success, ranking among the top 35 of over 3,900 ETFs worldwide in terms of asset size within just one year of its launch. Notably, IBIT recorded net inflows exceeding $37 billion, establishing a dominant position in the ETF market and significantly outperforming its competitor, Fidelity’s FBTC, which saw $11.8 billion in net inflows.
Currently, IBIT holds approximately $50 billion worth of Bitcoin, representing a substantial portion of the total $35.4 billion inflows into U.S.-listed Bitcoin spot ETFs. This underscores BlackRock’s strong belief in the growth potential of the Bitcoin ETF market and indicates the increasing role of cryptocurrencies in the global financial system.
BlackRock’s continued expansion in cryptocurrency investments sends a positive signal to the market, accelerating Bitcoin’s evolution from a mere asset to a critical pillar of the global financial framework
