Disclosed Holdings in BlackRock Income Funds
Reverberations echoed through the financial market this week as BlackRock, a titan among asset managers, revealed through regulatory filings that its income funds have sunk their teeth into its own Bitcoin ETFs. Specifically, the Strategic Income Opportunities Fund (BSIIX) and the Strategic Global Bond Fund (MAWIX) disclosed investments amounting to $3.56 million and $485,000 in the iShares Bitcoin Trust (IBIT) respectively.
These investments, albeit a mere fraction, nestle within the vast portfolios of BSIIX and MAWIX, totaling $37.4 billion and $776.4 million, respectively. As of May 24, the iShares Bitcoin Trust cradled approximately $19.61 billion in Bitcoins, though lagging behind the Grayscale Bitcoin Trust (GBTC).
Global Implications of Bitcoin ETFs
On a global scale, spot Bitcoin ETFs securely harbor over 1 million Bitcoins, basking in a valuation exceeding $68 billion. This treasure trove accounts for nearly 5.10% of Bitcoin’s circulating supply, which surpasses 19.7 million BTC. Since their inception in January, more than 600 investment firms, including heavyweights like Morgan Stanley, JPMorgan, and Wells Fargo, dipped their toes into the waters of spot Bitcoin ETFs. Notably, Millennium Management stands as the foremost accumulator, boasting holdings amounting to $1.9 billion.
Finsum: While this internal investment strategy isn’t groundbreaking, investors should tread cautiously when peering into income funds.
- income ETFs
- fixed income
- bitcoin
