Asset management giant BlackRock added $4.1 million worth of its spot Bitcoin ETF shares to two of its funds, according to May 28 SEC filings.The asset manager added $3.6 million of its iShares Bitcoin Trust (IBIT) shares to its BlackRock Strategic Income Opportunities Portfolio (BSIIX).It also added $486,000 worth of IBIT shares to its BlackRock Strategic Global Bond Fund (MAWIX).Each purchase covers additions in the first quarter of 2024. BlackRock previously disclosed plans to add IBIT to its other funds in its SEC filings on March 8.The company also reported owning $6.6 million of IBIT shares in a 13F filing on May 10.BlackRock’s various investments in IBIT position it alongside numerous third parties that purchased shares of the spot Bitcoin ETF in the first quarter.According to Fintel data on May 28, at least 422 firms have disclosed IBIT holdings.Bloomberg ETF analyst Eric Balchunas recently commented on spot Bitcoin ETFs’ hundreds of investors, noting that “even having 20 holders” is significant for newborn ETFs.IBIT is the most popular spot ETF, accounting for about half of the 929 firms that disclosed investments in the first quarter.Millennium Management and Schonfeld Strategic Advisors have the largest positions in IBIT, amounting to $844.2 million and $248.0 million, respectively.Several globally systematically important banks (G-SIBs), including JP Morgan Chase, Bank of America, BNY Mellon, BNP Paribas, UBS, and Royal Bank of Canada, have also invested in IBIT.The latest investments come as IBIT continues to lead in terms of outflows. IBIT achieved $16.4 billion in net flows as of May 24 — nearly doubling the second highest net flows of Fidelity’s FBTC to date.IBIT reported $17.2 billion in assets under management (AUM) as of May 28, accounting for 31% of all spot Bitcoin ETFs’ combined AUM.Grayscale’s GBTC, with $20 billion AUM, surpasses IBIT and represents another 37% of the total but has seen $17.7 billion in net outflows since its launch.Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Catch the latest in crypto by following us on X. Stay informed on the go.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.The examinations will determine S&C’s awareness of FTX misconduct and potential conflicts during SBF’s Robinhood shares acquisition.Miller argued that the flagship crypto remains vastly undervalued and predicts a major shift in global capital governance.The report highlights significant gaps in law enforcement’s ability to track and recover illicit digital assets moved via privacy coins, layer-2 networks, and crypto mixers. DeFi Technologies recently adopted BItcoin as its primary treasury reserve asset.Japanese firm Metaplanet saw its stock surge 10% after its most recent Bitcoin acquisition.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
