One of BlackRock’s proprietary mutual funds, the Strategic Income Opportunities Portfolio, is increasing its exposure to Bitcoin through additional purchases of the iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF), according to the latest SEC filings.
The portfolio held 2,397,423 IBIT shares worth $155.8 million as of Sept. 30, a 14% increase from the 2,096,447 shares reported at the end of June, according to the new filing.
The fund is an open-ended fixed income portfolio covering government debt, corporate credit, mortgages, emerging markets and cash-like assets, and its flexible mission allows it to add non-traditional holdings, such as ETFs, if they support your total return and diversification goals. This structure allows the fund to include IBIT in its fixed income mix.
IBIT has also been in the spotlight this week after Nasdaq ISE filed to increase its IBIT options position limit to 1 million contracts.
According to Fintel data, IBIT’s institutional ownership has increased steadily month on month, with total institutional ownership exceeding 400 million shares, currently at its highest level since its inception.
Bitcoin BTC$91,354.35 After rising to more than $91,000 on Friday, IBIT is up about 2% in premarket trading at about $52 a share.
