Summary
BlackRock funds now have the ability to allocate to bitcoin ETFs, including the iShares Bitcoin Trust. The company added language to prospectuses allowing for potential investments in bitcoin ETPs. This move provides additional crypto exposure for the funds, which already had exposure to bitcoin futures. BlackRock’s actions in this space will be guided by what is best for clients and the fund’s investment strategy.
Key Points
1. Three BlackRock funds now have the ability to allocate to bitcoin ETFs.
2. The fund giant, with roughly $10 trillion in assets under management, may buy shares of bitcoin exchange-traded products for the BlackRock Global Allocation Fund.
3. BlackRock added similar language to the prospectus of its Strategic Income Opportunities Portfolio and the BlackRock Strategic Global Bond Fund, allowing for possible allocations to bitcoin ETFs.