- BlackRock’s Global Allocation Fund holds 430,770 IBIT shares worth over $17 million, a 117% increase since July 31.
- IBIT is now among AUM’s top 35 largest ETFs, with over $37 billion in net inflows in its first year.
- IBIT holds 527,284 BTC valued at over $50 billion, surpassing gold ETFs in total AUM.
BlackRock has disclosed that its Global Allocation Fund holds 430,770 shares of its spot Bitcoin (BTC) exchange-traded fund (ETF), IBIT. A filing with the U.S. Securities and Exchange Commission (SEC) shows that as of October 31, these shares are valued at over $17 million.
The filing, highlighted by X (formerly Twitter) user MacroScope, shows a remarkable 117% increase in IBIT shares from the 198,874 shares reported on July 31. This figure is more strikingly over 10 times the 43,000 shares registered in the fund’s first-quarter filing.
BlackRock’s Global Allocation Fund is a diversified investment instrument across U.S. and international equities, debt instruments, and short-term securities. While the IBIT shares make up just 0.1% of the fund’s $16.5 billion total size, their rapid growth underscores BlackRock’s increasing commitment to Bitcoin as an asset class.
The rise in the popularity of IBIT is evident from its wide industry impact. Recently, Nate Geraci, President of The ETF Store, highlighted the meteoric increase in IBIT’s joining of the top 35 largest ETFs by assets under management (AUM) out of more than 3,900 funds. “Ahead of ETFs such as iShares MSCI EAFE ETF, iShares 20+ Year Treasury Bond ETF, & Vanguard Total World Stock ETF.”. In under a year.”You don’t know HOW ridiculous this is. “
BlackRock’s Bitcoin ETF IBIT Leads with $37 Billion
Data from Farside Investors further illustrates the growth. IBIT has attracted more than $37 billion in net inflows within its first year, compared with $11.8 billion amassed by Fidelity’s FBTC, the second-largest ETF by inflows. This makes the IBIT the main determinant of the $35.4 billion total inflows for U.S.-traded spot Bitcoin ETFs.
IBIT’s success has been transformative for the broader Bitcoin ETF landscape. According to ETF tracker HeyApollo, the fund currently holds 527,284 BTC, which is valued at over $50 billion at Bitcoin’s current price of $95,753.77. The result of this massive accumulation has been that Bitcoin investment vehicles have surpassed gold ETFs in total assets under management.
BlackRock’s aggressive stance on Bitcoin ETFs reflects a growing acceptance of cryptocurrency within traditional financial markets. With institutional players like BlackRock leading from the front, the integration of Bitcoin into mainstream portfolios seems to be gaining rapid pace.
The question now is: How far can Bitcoin ETFs like IBIT go in reshaping the investment landscape? If recent trends are any indication, the answer may be unprecedented.
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