BlackRock wants to include shares of the Bitcoin spot ETF in the Global Allocation Fund, to offer BTC exposure to its fund investors.
American company BlackRock, currently the largest asset manager in the world, has filed an application with the Securities and Exchange Commission (SEC), seeking regulatory approval to acquire shares of its own Bitcoin ETF, the iShares Bitcoin Trust (IBIT), through its $18.000 billion Global Allocation Fund.
BlackRock's move seeks to provide Bitcoin exposure to investors in its Global Allocation Fund, expanding the range of assets offered through this financial vehicle. The Global Allocation Fund currently invests in bonds, stocks and other asset classes and counts tech giants such as Microsoft and Nvidia among its major shareholders.
If the SEC approves the application The asset manager, led by BlackRock, will be able to purchase shares of IBIT and other Bitcoin funds listed on major U.S. exchanges that reflect the price performance of Bitcoin through direct holdings for its fund, the company said.
Brazil, the next market for BlackRock's Bitcoin ETF
In addition to expanding the opportunities it offers through IBIT in the United States, BlackRock is also targeting Brazil as the next market for its spot ETF.
The investment asset manager indicated that it is collaborating with the B3 stock exchange to expand the IBIT offering to the Brazilian market. In this way, the financial giant will be able to provide Brazilian investors with regulated and high-quality access to the largest cryptocurrency on the market, which has just established a new all-time high $70.083 per BTC.
IBIT is approaching 200.000 BTC
BlackRock’s Bitcoin ETF’s current holdings are close to 200.000 BTC. According to Bitcoin Treasuries, IBIT holds 191.132 BTC in reserve, which is valued at over $13.000 billion USD today. This is almost the same amount of bitcoin held by MicroStrategy, the cryptocurrency’s largest institutional investor, and almost half of the bitcoin held in reserve by Grayscale Investments’ Grayscale Bitcoin Trust (GBTC).
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