BlackRock Adds 4,000 Bitcoin ETF Shares, Strengthens Global Bonds

JAKARTA - BlackRock, one of the world's largest asset managers, recently announced a significant increase in Bitcoin ownership through its strategic global bond fund. As of June 30, 2024, the fund was recorded to own 16,000 shares of the iShares Bitcoin Trust (IBIT), up from 12,000 shares reported at the end of May. This move demonstrates BlackRock's commitment to expanding its investment portfolio by including more digital assets.

Based on the latest filing, BlackRock increased its exposure to Bitcoin by adding 4,000 IBIT shares to its portfolio. This addition shows greater interest and confidence in Bitcoin-based exchange-trained funds (ETF) products. This move is in line with a broader market trend, in which institutional investors are increasingly integrating Bitcoin ETF into their portfolios.

BlackRock's move to expand its position in the iShares Bitcoin Trust also reflects the ongoing global momentum for Bitcoin ETF, where financial institutions continue to seek to diversify their offerings and meet investor demand for crypto exposure.

The addition of Bitcoin's ETF shares by BlackRock reflects a broader trend of institutional interest in Bitcoin and digital assets. With a Bitcoin price spike close to US$60,000 (Rp929 million), many financial companies are trying to capitalize on this market potential. This trend is not limited to the United States alone; other markets like Hong Kong are also experiencing significant growth in managed Bitcoin ETF assets, showing global interest in regulated crypto products.

The wider Bitcoin ETF market has seen increased inflows in various publishers. According to data from Farside Investors, several Bitcoin ETFs report increased ownership reflecting strong investor demand. With this latest report, BlackRock has now surpassed Grayscale in total crypto asset holdings, with a value of around 22.14 billion US Dollars (Rp343 trillion) compared to Grayscale's 21.99 billion US Dollars (Rp340 trillion).

The increase in Bitcoin ETF ownership by BlackRock comes at a time when the crypto market is experiencing new optimism. Bitcoin's recent rally to US$63,000 (Rp976 million) has sparked interest not only in Bitcoin but also in altcoins, especially those associated with large institutional investors like BlackRock.