BlackRock Increases Bitcoin Holdings Amid Rising Institutional Interest

NEW YORK, NY — BlackRock’s Strategic Income Opportunities Portfolio has significantly expanded its exposure to Bitcoin. The firm bought additional shares of the iShares Bitcoin Trust (IBIT), bringing its total holdings to 2,397,423 shares worth $155.8 million as of September 30, up from 2,096,447 shares at the end of June, according to a recent filing.

The Strategic Income Opportunities Portfolio is designed as an unconstrained bond portfolio. It invests in a variety of asset classes, including government debt, corporate credit, and cash-like assets. The portfolio’s flexible mandate allows it to include ETFs like IBIT when they align with its total return and diversification objectives.

IBIT has gained attention this week as the position limit for its options was recently proposed to increase to one million contracts. Institutional ownership of IBIT has been rising steadily, with over 400 million shares now held by institutions, marking the highest level since the ETF’s launch.

The price of Bitcoin has risen to over $91,000, with IBIT up approximately 2% in premarket trading, trading around $52 per share. This increase reflects the growing institutional appetite for cryptocurrencies.

Market analysts note that BlackRock’s move to increase Bitcoin holdings displays confidence in the cryptocurrency’s future. The trend of institutional investment in Bitcoin indicates a broadening acceptance of digital assets among major financial firms.

“With major institutions like BlackRock entering the crypto space, it signals a shift toward Bitcoin as a legitimate asset class,” said a financial analyst familiar with the cryptocurrency market.

As the market develops, analysts are closely watching how such movements from top investment firms will influence the broader crypto landscape.