BlackRock, the world’s largest asset manager, has made a significant move in the cryptocurrency market by increasing its holdings in the iShares Bitcoin Trust (IBIT). As of its latest filing with the U.S. Securities and Exchange Commission (SEC), BlackRock’s Strategic Global Bond Fund now holds 32,000 shares of IBIT, up from previous levels.

The iShares Bitcoin Trust has quickly risen to prominence, surpassing Grayscale’s Bitcoin Trust (GBTC) to become the largest Bitcoin ETF globally, with over $20 billion in assets.

BlackRock’s integration of IBIT into its bond-focused funds marks a strategic pivot, highlighting the firm’s belief in the long-term value of Bitcoin.

The rise of BlackRock’s IBIT also comes amid increasing global demand for Bitcoin ETFs, with inflows reaching significant levels across various markets, including Hong Kong. BlackRock’s dominance in this space reflects its ability to meet the growing demand for regulated cryptocurrency products.

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