BlackRock has applied to buy shares of spot Bitcoin ETFs for the Global Allocation Fund
BlackRock has applied to the SEC for permission to purchase shares of spot bitcoin ETFs. The firm intends to acquire assets for its Global Allocation fund.
Financial giant BlackRock has filed an application with the U.S. Securities and Exchange Commission (SEC) to purchase shares of spot bitcoin ETFs for its Global Allocation product.
The documents were sent on March 7, 2024. In them, the company requests an expansion of the list of assets available for acquisition by the mentioned fund. According to analysts, BlackRock thus seeks to increase the profitability of Global Allocation against the background of the growth of the bitcoin exchange rate.
"The fund can purchase ETP securities that generally reflect the dynamics of the value of the first cryptocurrency by directly owning the asset, including shares of bitcoin-ETP sponsored by an affiliate of BlackRock. The fund will invest only in bitcoin-ETP, which are listed and traded on national securities exchanges," the documents say.
Earlier, the company also applied to purchase shares of spot bitcoin ETFs for its Strategic Income Opportunities fund. The SEC has not yet made a decision on this issue.
