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    Rajesh AK in Bitcoin

    08 Mar 09:30 AM


    BlackRock wants to buy spot Bitcoin ETFs for global allocation fund

    BlackRock’s Global Allocation Fund aims to buy the company’s own spot Bitcoin ETFs as well as BTC ETFs by other issuers.
    BlackRock, one of the largest asset managers in the world, is planning to buy spot Bitcoin exchange-traded funds (ETF) for its Global Allocation Fund (MALOX).

    According to a March 7 update to the filing with the United States Securities and Exchange Commission (SEC), BlackRock wants to include physically-backed Bitcoin exchange-traded products (ETP), or in other words spot Bitcoin ETFs, as part of MALOX.

    The updated filing notes that MALOX may purchase BlackRock’s own spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), as well as ETFs by other issuers, stating:

    “The fund may acquire shares in ETPs that seek to reflect generally the performance of the price of Bitcoin by directly holding bitcoin — ‘Bitcoin ETPs’ — including shares of a Bitcoin ETP sponsored by an affiliate of BlackRock.”

    Source - Coin Telegraph