BlackRock’s Global Allocation Fund raises Bitcoin exposure by 1,810% over 12 months

BlackRock’s Global Allocation Fund increased its exposure to Bitcoin (BTC) through its spot exchange-traded fund, iShares Bitcoin Trust (IBIT), by roughly 1,810% since the ETF was launched in January 2024.

According to a filing submitted to the US Securities and Exchange Commission (SEC) on March 2, the fund held 821,664 shares of IBIT as of Jan. 31, valued at approximately $47.4 million.

Comparatively, it only held 43,000 shares of IBIT at the end of the first quarter of 2024. 

Incremental allocation since July

The latest disclosure also reflects a broader trend of steady accumulation by the Global Allocation Fund.

The fund’s exposure is up 91% since the end of the third quarter of 2024 when it reported 430,770 IBIT shares. The position was worth just over $17 million at the time.

Meanwhile, the latest share count is roughly 4x higher than the 198,874 shares recorded at the end of the second quarter. The consistent upward trajectory in the fund’s Bitcoin exposure over the past year indicates a sustained interest in increasing its exposure to Bitcoin.

The Global Allocation Fund, which manages approximately $15.8 billion in diversified assets across US and international equities, fixed income, money markets, and short-term securities, now allocates 0.25% of its portfolio to IBIT. 

Despite the small percentage, this marks a substantial rise from the 0.1% portfolio share reported in October. The ate of increase signals a growing willingness by BlackRock to integrate digital assets into traditional fund structures.

Additionally, BlackRock incorporated Bitcoin into its $150 billion model portfolio, with a 1% to 2% target allocation to IBIT.

The shift also highlights the expanding role of spot Bitcoin ETFs within diversified institutional investment strategies, particularly in the context of multi-asset portfolios managed by global firms.

A recent report by River revealed that hedge funds and registered investment advisors have increased their Bitcoin exposure through ETFs by roughly 357% in 2024 to hit a total of $34.3 billion.

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