Two of BlackRock’s funds bought into the company’s Bitcoin spot ETF

The IBIT fund, which surpassed Grayscale for the first time since January with yesterday’s figures and became the world’s largest Bitcoin ETF in this sense, is also being acquired by BlackRock’s other funds. The company recently announced to the SEC that two of its ETFs have added the IBIT ETF to their funds.

Two of BlackRock’s funds bought into the company’s Bitcoin spot ETF

It took just 96 trading days for the BlackRock Bitcoin spot ETF to become the world’s largest Bitcoin fund. After yesterday’s figures, IBIT overtook Grayscale’s GBTC. BlackRock’s rise to the top was, of course, due to the fact that not only individuals but also large corporations were choosing them to buy Bitcoin funds. In fact, some of BlackRock’s other funds are also acquiring the company’s own Bitcoin spot ETF.

2 funds bought IBIT

BlackRock’s Strategic Return Opportunities Fund and Strategic Global Bond Fund bought into the Bitcoin spot ETF, the firm that manages more than $10 trillion in assets reported to the SEC. The purchases amounted to $3.6 million and $486,000 for the two funds, respectively. It was stated that the investments were made in the first quarter of 2024. BlackRock had previously notified the SEC of its request to purchase Bitcoin ETFs for its other funds.

As it will be remembered, companies recently announced their reports on the first quarter of 2024 and it was revealed that more than 400 companies bought from the IBIT fund. Eric Balchunas, Bloomberg’s ETF expert, described the purchase of IBIT funds by so many companies as “mind boggling”.

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