BlackRock adds $4.1 million of its IBIT spot Bitcoin ETF to two funds

Asset absorption elephantine BlackRock added $4.1 cardinal worthy of its spot Bitcoin ETF shares to 2 of its funds, according to May 28 SEC filings.

The plus manager added $3.6 cardinal of its iShares Bitcoin Trust (IBIT) shares to its BlackRock Strategic Income Opportunities Portfolio (BSIIX).

It besides added $486,000 worthy of IBIT shares to its BlackRock Strategic Global Bond Fund (MAWIX).

Each acquisition covers additions successful the archetypal 4th of 2024. BlackRock antecedently disclosed plans to adhd IBIT to its different funds successful its SEC filings connected March 8.

The institution besides reported owning $6.6 cardinal of IBIT shares successful a 13F filing connected May 10.

Hundreds of different investors

BlackRock’s assorted investments successful IBIT presumption it alongside galore 3rd parties that purchased shares of the spot Bitcoin ETF successful the archetypal quarter.

According to Fintel information connected May 28, astatine slightest 422 firms person disclosed IBIT holdings.

Bloomberg ETF expert Eric Balchunas precocious commented connected spot Bitcoin ETFs’ hundreds of investors, noting that “even having 20 holders” is important for newborn ETFs.

IBIT is the astir fashionable spot ETF, accounting for astir fractional of the 929 firms that disclosed investments successful the archetypal quarter.

Millennium Management and Schonfeld Strategic Advisors person the largest positions successful IBIT, amounting to $844.2 cardinal and $248.0 million, respectively.

Several globally systematically important banks (G-SIBs), including JP Morgan Chase, Bank of America, BNY Mellon, BNP Paribas, UBS, and Royal Bank of Canada, person besides invested successful IBIT.

IBIT ranks highly

The latest investments travel arsenic IBIT continues to pb successful presumption of outflows. IBIT achieved $16.4 cardinal successful nett flows arsenic of May 24 — astir doubling the 2nd highest nett flows of Fidelity’s FBTC to date.

IBIT reported $17.2 cardinal successful assets nether absorption (AUM) arsenic of May 28, accounting for 31% of each spot Bitcoin ETFs’ combined AUM.

Grayscale’s GBTC, with $20 cardinal AUM, surpasses IBIT and represents different 37% of the full but has seen $17.7 cardinal successful nett outflows since its launch.

The station BlackRock adds $4.1 cardinal of its IBIT spot Bitcoin ETF to 2 funds appeared archetypal connected CryptoSlate.