In a move that highlights its growing confidence in cryptocurrency, BlackRock recently made headlines by enhancing its investment in the iShares Bitcoin Trust (IBIT), acquiring a substantial $78 million worth of shares as of September 30. This update was uncovered through recent filings with the SEC and first reported by MacroScope.
Investment Details
Among the various offerings, the BlackRock Strategic Income Opportunities Fund (BSIIX), which oversees $39 billion in assets, reported adding more than 2 million shares of IBIT during the third quarter. This latest acquisition brings the fund’s total investment in IBIT to approximately 2,140,095 shares, now valued around $77 million.
Meanwhile, another of BlackRock’s funds, the strategic global bond fund (MAWIX) with assets totaling $816 million, revealed that it too stepped up its position in IBIT. It acquired over 24,000 additional shares, bringing its total count to 40,682, valued at an estimated $1.4 million.
Market Context
Since its launch in January, IBIT has demonstrated remarkable growth, boasting nearly $48 billion in assets under management as of November 27. This impressive figure positions IBIT ahead of the iShares Gold Trust (IAU), which currently manages around $33 billion, indicating a strong interest and faith in the Bitcoin ETF.
Diverse stakeholders, including hedge funds, pension plans, and institutional investors, have flocked to take advantage of the potential that IBIT presents. In the most recent 13F filings, Millennium Management topped the list with a notable $848 million stake in IBIT shares. Following closely behind are Goldman Sachs and Capula Management, holding positions of approximately $461 million and $308 million, respectively.
Performance Metrics
The Bitcoin ETF continues to perform well in various key metrics, such as trading volume and capital influx. Latest figures from Farside Investors indicate that the fund has seen over $30 million in investments during recent periods, reinforcing the trend of growing interest in cryptocurrency assets.
Source: Cryptobriefing
