BlackRock Purchases iShares Bitcoin Trust Shares in Q1 2024

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As an experienced analyst, I view BlackRock’s recent purchases of shares in the iShares Bitcoin Trust (IBIT) as a significant move indicative of the growing institutional adoption of digital assets. With a total investment of $3.945 million between the Strategic Income Opportunities Fund and the Strategic Global Bond Fund, BlackRock is positioning itself to capitalize on the potential upside of Bitcoin.

According to recent SEC filings, BlackRock’s Strategic Income Opportunities Fund (BSIIX) and Strategic Global Bond Fund (MAWIX) acquired shares of the iShares Bitcoin Trust (IBIT) during the first quarter of the year.

As a crypto investor, I recently made purchases amounting to a total of $3.56 million and an additional $485,000. Currently, the value of IBIT’s Bitcoin holdings stands at approximately $19.61 billion, making it the second-largest Bitcoin trust in existence after Grayscale Bitcoin Trust (GBTC) with its current estimated value.

Approximately 600 US investment firms, including heavyweights such as Morgan Stanley, JPMorgan, and Wells Fargo, have invested in Bitcoin spot ETFs since their introduction in January. Millennium Management tops the list with a reported $1.9 billion investment, while Schonfeld Strategic Advisors and Aristeia Capital follow closely behind. BlackRock’s IBIT has garnered an impressive 414 reported holders during its initial 13F filing period, marking a new record for first-time ETFs.

As BlackRock waits for the SEC’s approval on its application for a spot Ether ETF using Form 19b-4, Nasdaq and CboeBZX have resubmitted their Ethereum ETF proposals with revised forms. The SEC’s latest request for modifications to 19b-4 forms has caused a delay in the process. Before trading can commence for these ETFs, they must first receive approval from the SEC via Form 19b-4, followed by operational S-1 registration statements.

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2024-05-29 05:40