01:05Bitcoin Is a 'Better Product Than Gold': EconomistBlackRock, the $9.1 trillion asset manager, has laid out plans to purchase spot bitcoin exchange traded products for the firm’s Global Allocation Fund, according to anSpot bitcoin exchange traded funds approved in January of this year have been a big success, relative to the broader ETF market, with BlackRock’s iShares Bitcoin Trust holding the record for the most daily inflows.
The $18 billion AUM Global Allocation Fund filing says BlackRock may acquire its own IBIT product as well as other bitcoin ETPs. “The Fund may acquire shares in exchange-traded products that seek to reflect generally the performance of the price of bitcoin by directly holding bitcoin , including shares of a Bitcoin ETP sponsored by an affiliate of BlackRock. The Fund will only invest in Bitcoin ETPs that are listed and traded on national exchanges,” the filing said.to incorporate spot bitcoin ETPs into its $36.7 billion AUM Strategic Income Opportunities Fund earlier this week.
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