BlackRock’s Global Allocation Fund has significantly increased its stake in the iShares Bitcoin Trust (IBIT), raising its holdings by 91% to a total of 821,664 shares. This investment, valued at approximately $47 million as of January 31, underscores the asset management giant’s growing confidence in Bitcoin as a viable institutional investment.
According to a Thursday SEC filing, the fund added 390,894 IBIT units between November 2024 and January 2025. This marks a continuation of its steady expansion in Bitcoin-related investments, having increased its IBIT holdings from just 43,000 shares in April 2024 to nearly 200,000 shares by mid-2024.
BlackRock’s Broader Bitcoin Exposure
Beyond the Global Allocation Fund, BlackRock has made substantial Bitcoin investments across multiple portfolios. The company had previously disclosed that two of its investment funds—the Strategic Income Opportunities Fund (BSIIX) and the Strategic Global Bond Fund (MAWIX)—held a combined $78 million in IBIT shares.
The most recent SEC filing provides further insight into these holdings. As of September 30, the BSIIX fund owned 2,140,095 IBIT shares, valued at around $77 million, while the MAWIX fund maintained 40,682 shares, worth approximately $1.4 million. These investments illustrate BlackRock’s broader strategy to integrate Bitcoin exposure into its diversified asset management approach.
Institutional Investors Flock to BlackRock’s Bitcoin Trust
Since the launch of BlackRock’s iShares Bitcoin Trust, the fund has attracted significant capital from institutional investors, hedge funds, and pension funds. One of the most notable investments came from Mubadala Investment, Abu Dhabi’s sovereign wealth fund, which disclosed a purchase of nearly $437 million in IBIT shares during the first quarter of 2024. This marked one of the first major crypto investments by a sovereign wealth fund.
Additionally, the State of Wisconsin Investment Board (SWIB) has shown strong confidence in Bitcoin through its investment in IBIT. By the end of 2024, SWIB revealed it had doubled its IBIT holdings, reaching a total investment of $321 million.
BlackRock’s Bitcoin Fund Surges in Market Influence
As of March 25, BlackRock’s Bitcoin fund had amassed around $49.5 billion in assets under management (AUM). This substantial growth signals increasing mainstream acceptance of Bitcoin as an institutional-grade asset.
BlackRock’s continued accumulation of IBIT shares reflects a broader trend of traditional financial institutions warming up to Bitcoin. With major pension funds and sovereign wealth funds now entering the space, institutional adoption of cryptocurrency appears to be gaining momentum.
Moving forward, BlackRock’s deepening investment in Bitcoin could further legitimize the asset within traditional financial markets, paving the way for wider institutional participation in the crypto economy.