BlackRock, an investment firm with $11.5T AUM, has added its Bitcoin ETF to its $150B model portfolio product.
BlackRock, a global investment firm with $11.5 trillion in assets under management, has added its Bitcoin exchange-traded fund (ETF) to its model portfolio product, according to a Feb. 28 report from Bloomberg. Portfolios that allow for alternative assets will be able to put a 1%–2% allocation into the firm’s iShares Bitcoin ETF Trust (IBIT), potentially creating new demand for the exchange-traded fund.
The 1%–2% allocation is due to Bitcoin’s (BTC) volatility, which the firm called a “reasonable range” in a paper authored by the BlackRock Investment Institute. Anything more would significantly increase the crypto’s share of the total portfolio risk.
BlackRock’s $150-billion model portfolio product contains a range of investment portfolios that are sold to financial advisers who manage assets for their clients. The portfolios contain different balances of investments, with some targeted for growth, income generation or capital preservation.
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