BlackRock may buy Bitcoin spot ETF for its Global Allocation Fund

In the latest submission to the US SEC, BlackRock, an American asset management company, has revealed its potential interest in purchasing Bitcoin spot ETF for its Global Allocation Fund. The documents stated that the fund may acquire stocks of exchange-traded products (ETPs) that track the performance of Bitcoin prices, including those from BlackRock subsidiaries. With assets under management of $17.8 billion as of March 7th, the Global Allocation Fund is considering this controversial but increasingly popular investment option.

In addition, BlackRock has also applied to integrate a spot Bitcoin ETF into its Strategic Income Opportunities Fund, which boasts assets under management of over $36.7 billion. These moves indicate a growing willingness within the company to explore new investment avenues and adapt to the changing financial landscape. The potential integration of Bitcoin into BlackRock's funds suggests a shift in traditional investment strategies and reflects the growing influence of cryptocurrencies in the broader financial market.

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