BlackRock introduces proprietary Bitcoin ETF to its lineup of income and bond funds

BlackRock’s income and bond-focused funds have acquired shares of their own Bitcoin exchange-traded fund (ETF) in the first quarter, according to regulatory filings. The Strategic Income Opportunities Fund purchased $3.56 million worth of the iShares Bitcoin Trust, while the Strategic Global Bond Fund made a $485,000 purchase. These purchases are a small fraction of the funds’ overall portfolios, which are valued at $37.4 billion and $776.4 million, respectively. The iShares Bitcoin Trust currently holds $19.61 billion worth of Bitcoin, making it the second-largest Bitcoin trust behind Grayscale Bitcoin Trust. Spot Bitcoin ETFs globally now hold over 1 million Bitcoin worth over $68 billion. Over 600 US investment firms have invested in spot Bitcoin ETFs since they launched in January, with firms like Morgan Stanley, JPMorgan, and Wells Fargo among the buyers. Millennium Management is the largest spot Bitcoin ETF accumulator, with $1.9 billion invested. BlackRock recently had its spot Ether ETF bid approved in the US, but the SEC must still approve the firm’s Form S-1 filings for the products to begin trading.