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BlackRock’s Bond Fund Increases Bitcoin Exposure Amidst ETF Popularity

New York, NY – BlackRock’s Strategic Income Opportunities Portfolio, a flexible bond fund managed in-house, has increased its investment in the iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) by 14%, according to a recent filing with the Securities and Exchange Commission (SEC). As of September 30, the fund held 2,397,423 IBIT shares, valued at $155.8 million, up from the 2,096,447 shares it held at the end of June.

The Strategic Income Opportunities Portfolio is an unconstrained bond fund with a flexible mandate, that allows it to diversify across a range of assets including government debt, corporate credit, mortgages, and emerging markets. The mandate also allows it to add nontraditional holdings such as ETFs when they support its total return and diversification goals. This allows the fund to include IBIT alongside its fixed income mix.

The iShares Bitcoin Trust (IBIT) has seen increasing institutional interest since its launch, with Fintel data showing institutional ownership now at its highest level with over 400,000,000 shares in total institutional ownership. This week Nasdaq ISE filed to lift the position limit for IBIT options to one million contracts.

Bitcoin (BTC) climbed to over $91,000 on Friday, and IBIT is up about 2% in premarket trading at roughly $52 per share.

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