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{"id":110031,"date":"2024-11-29T11:19:55","date_gmt":"2024-11-29T11:19:55","guid":{"rendered":"https:\/\/cryptocurrencypanther.com\/2024\/11\/29\/why-blackrock-funds-are-investing-millions-into-its-spot-bitcoin-etf-ibit\/"},"modified":"2024-11-29T11:19:55","modified_gmt":"2024-11-29T11:19:55","slug":"why-blackrock-funds-are-investing-millions-into-its-spot-bitcoin-etf-ibit","status":"publish","type":"post","link":"https:\/\/cryptocurrencypanther.com\/2024\/11\/29\/why-blackrock-funds-are-investing-millions-into-its-spot-bitcoin-etf-ibit\/","title":{"rendered":"Why BlackRock Funds Are Investing Millions Into Its Spot Bitcoin ETF (IBIT)?"},"content":{"rendered":"

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Two BlackRock funds have been aggressively buying shares of the iShares Bitcoin Trust ETF (IBIT) pouring a total of $78 million during the last quarter ending September 30. The world\u2019s largest asset manager is itself contributing to the growth of Bitcoin ETF IBIT which has clocked more than $31.6 billion in net inflows.<\/p>\n

BlackRock Funds Boost Bitcoin Exposure with IBIT Investments<\/h2>\n
During the third quarter ending September 30, 2024, two BlackRock funds significantly significantly increased their holdings by buying millions of shares of the Bitcoin ETF.<\/p>\n
The BlackRock Strategic Income Opportunities Fund (BSIIX), managing $39 billion in assets, added 2 million shares of IBIT in the quarter ending September 30. This brings its total IBIT holdings to 2,140,095 shares, valued at approximately $118 million.<\/p>\n
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Similarly, the BlackRock Strategic Global Bond Fund (MAWIX), which oversees $816 million in assets, acquired 24,000 shares of IBIT, increasing its holdings to 40,682 shares, now worth around $2 million.<\/p>\n
Rick Rieder, BlackRock\u2019s Chief Investment Officer for Global Fixed Income, is managing both these funds signaling a broader strategy of incorporating cryptocurrency-related assets into traditional portfolios.<\/p>\n
In the fourth quarter so far, the IBIT share price has surged by a staggering 61%. On Wednesday, November 27, the IBIT share price closed 6.44% up closing at $55.03. Its gains since inception in January 2024 stand at a staggering 106%.<\/p>\n
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