🚨 The proprietary income fund of BlackRock increases Bitcoin ETF holdings by 14%.
The iShares Bitcoin Trust (IBIT) is a spot Bitcoin exchange-traded fund (ETF) managed by BlackRock. It allows investors to gain exposure to the price of Bitcoin through traditional stock markets, without the need to buy, store, and secure the cryptocurrency directly. Although the increase was not made by BlackRock at a corporate level, but by one of its funds, the Strategic Income Opportunities Portfolio.
➡️ This fund, which seeks strategic income opportunities, has now allocated a portion to Bitcoin through the ETF. This is a significant increase, as the fund raised its holding of IBIT by 14% in the third quarter, which means that BlackRock's interest in IBIT grew at a considerable pace.
➡️ This move is a sign of the growing acceptance of Bitcoin by traditional financial institutions. It shows that large asset managers like BlackRock are willing to include cryptocurrency-related products in their portfolios, despite market volatility.
➡️ Thus, the investment suggests a shift in the perception of Bitcoin, moving from being a purely speculative asset to one that can be part of a more diversified and legitimate investment strategy.
📊 This marks a milestone in Bitcoin's transition to the mainstream financial market.
