BlackRock is purchasing spot bitcoin ETPs, including its own IBIT product, for its $18 billion AUM Global Allocation Fund.
BlackRock filed to incorporate spot bitcoin ETPs into its $36.7 billion AUM Strategic Income Opportunities Fund earlier this week.

BlackRock, the $9.1 trillion asset manager, has laid out plans to purchase spot bitcoin exchange traded products (ETPs) for the firm’s Global Allocation Fund, according to an updated filing on Thursday with the the Securities and Exchange Commission (SEC).

Spot bitcoin exchange traded funds (ETFs) approved in January of this year have been a big success, relative to the broader ETF market, with BlackRock’s iShares Bitcoin Trust (IBIT) holding the record for the most daily inflows.

The $18 billion AUM Global Allocation Fund filing says BlackRock may acquire its own IBIT product as well as other bitcoin ETPs.

“The Fund may acquire shares in exchange-traded products (“ETPs”) that seek to reflect generally the performance of the price of bitcoin by directly holding bitcoin (“Bitcoin ETPs”), including shares of a Bitcoin ETP sponsored by an affiliate of BlackRock. The Fund will only invest in Bitcoin ETPs that are listed and traded on national exchanges,” the filing said.

BlackRock filed to incorporate spot bitcoin ETPs into its $36.7 billion AUM Strategic Income Opportunities Fund earlier this week.

BlackRock did not immediately respond to requests for comment.

BlackRock

Ian Allison

Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.