Bitcoin ETF Added to BlackRock Portfolio

BlackRock Adds Bitcoin ETF to Model Portfolios

• BlackRock included a 1-2% allocation for the IBIT Bitcoin ETF in its model portfolios.
• Michael Gates, BlackRock’s lead portfolio manager, highlighted Bitcoin’s potential for diversification.
• The IBIT Bitcoin ETF holds $47.89 billion in assets under management.
• The U.S. SEC approved the first spot market Bitcoin ETFs in January 2024.

BlackRock has integrated a small allocation of the IBIT Bitcoin ETF into its model portfolios, recognizing the cryptocurrency’s long-term investment potential and diversification benefits. The IBIT fund is currently valued at $47.89 billion in assets under management.