BlackRock adds $4.1 million of its IBIT spot Bitcoin ETF to two funds

BlackRock, the asset management giant, has added $4.1 million worth of its spot Bitcoin ETF shares to two of its funds, as stated in SEC filings on May 28. The iShares Bitcoin Trust (IBIT) shares were added to BlackRock Strategic Income Opportunities Portfolio (BSIIX) and BlackRock Strategic Global Bond Fund (MAWIX), with each purchase covering additions in the first quarter of 2024. This move follows BlackRock’s previous disclosure of plans to add IBIT to its other funds in March. BlackRock currently owns $6.6 million of IBIT shares, and it joins over 400 firms that have disclosed holdings of IBIT. The popularity of IBIT is evident as it accounted for half of the 929 firms that disclosed investments in spot Bitcoin ETFs in the first quarter. However, despite its success, IBIT has also experienced the highest net outflows, totaling $16.4 billion as of May 24.