BlackRock may purchase physical Bitcoin exchange-traded funds (ETFs) for its global allocation fund, according to the US-based asset manager’s latest filing with the Securities and Exchange Commission.
“By holding Bitcoin directly, the Fund may acquire shares of exchange-traded products (ETPs) that seek to reflect the overall performance of the Bitcoin price.bitcoin BTC
+1.60%
The Global Allocation Fund, which leverages U.S. and foreign stocks, bonds and money market securities to maximize returns, said it had $17.8 billion in assets under management as of March 7. black stone.
Earlier this week, BlackRock also contaminated Incorporating a Spot Bitcoin ETF into a Strategic Income Opportunity Fund. possession More than $36.7 billion.
Meanwhile, BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), has been leading the ETF race since its launch in January. Bitcoin recorded daily inflows of $788.3 million on Tuesday, following its all-time high above $69,000. IBIT currently holds $12.7 billion worth of Bitcoin.
Amid the success of IBIT, BlackRock also proposed launching a spot Ethereum ETF, but the SEC postponed a decision on this. Along with a similar offering from Fidelity.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.