Two funds under BlackRock bought IBIT worth $3.6 million and $486,000 respectively.

In the first quarter of 2024, asset management company BlackRock's two funds - the BlackRock Strategic Income Opportunities Fund and the BlackRock Strategic Global Bond Fund - invested in Bitcoin through the company's iShares Bitcoin Trust (IBIT) ETF. They respectively purchased $3.6 million and $486,000 worth of IBIT shares. Rick Rieder, Chief Investment Officer of BlackRock Global Fixed Income, manages these two funds and stated that hundreds of traditional financial companies purchased shares of the iShares Bitcoin Trust ETF in the first quarter. BlackRock also included the iShares Bitcoin Trust ETF in its global allocation fund (MALOX), which is a popular investment tool for both active and passive investors.