BlackRock Will Buy Spot Bitcoin ETFs

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BlackRock has recently updated its filing with the US Securities and Exchange Commission, stating that its Global Allocation Fund may invest in spot bitcoin exchange-traded funds (ETFs).

In the filing, the asset manager stated that the fund may acquire shares of Bitcoin ETPs, including those sponsored by BlackRock’s affiliate, as long as they are listed on national securities exchanges.

The Global Allocation Fund currently holds $17.8 billion in assets under management and primarily invests in U.S. and foreign equities, debt, and money market securities to maximize returns.

In addition to the Global Allocation Fund, BlackRock is also looking to incorporate spot bitcoin ETFs into its Strategic Income Opportunities fund, which holds over $36.7 billion in assets.