BlackRock plans to purchase spot bitcoin ETFs for its Global Allocation Fund | Headlines | News | CoinMarketCap
03/08/2024 17:14
BlackRock may purchase spot bitcoin exchange-traded funds (ETFs) for its Global Allocation Fund, according to the U.S.-based asset manager’s updated …
BlackRock may purchase spot bitcoin exchange-traded funds (ETFs) for its Global Allocation Fund, according to the U.S.-based asset manager’s updated filing with the Securities and Exchange Commission.
“The Fund may acquire shares in exchange-traded products (ETPs) that seek to reflect generally the performance of the price of bitcoin by directly holding bitcoin (Bitcoin ETPs), including shares of a Bitcoin ETP sponsored by an affiliate of BlackRock,” the firm said in the Thursday filing, adding that it will only invest in bitcoin ETFs listed on national securities exchanges.
The Global Allocation Fund, which utilizes U.S. and foreign equity, debt and money market securities in maximizing returns, held $17.8 billion in assets under management as of March 7, according to BlackRock.