BlackRock Funds Buy Shares of its Bitcoin ETF

In the first quarter of this year, BlackRock’s income and bond-focused funds purchased shares of the company’s own Bitcoin exchange-traded fund (ETF), according to regulatory filings.

The Strategic Income Opportunities Fund (BSIIX) bought $3.56 million worth of shares from the iShares Bitcoin Trust (IBIT), while the Strategic Global Bond Fund (MAWIX) purchased $485,000 worth.

These purchases make up a small fraction of BSIIX and MAWIX’s investment portfolios, which are worth $37.4 billion and $776.4 million respectively.

The IBIT currently holds $19.61 billion worth of Bitcoin, coming in second to the Grayscale Bitcoin Trust (GBTC), which holds $19.76 billion as of May 28.

CoinGecko reports that globally, spot Bitcoin ETFs now hold over 1 million Bitcoin with a total value of over $68 billion.