BlackRock recommends bitcoin allocation of up to 2% in multi-asset portfolios
Traditional financial firm BlackRock has recommended investors who want a multi-asset portfolio invest up to 2% into bitcoin.Recently, BlackRock’s bitcoin fund surpassed its gold fund in terms of assets under management.
In a new report outlining how to approach including bitcoin in a "multi-asset portfolio," BlackRock called 1% to 2% a "reasonable range for a bitcoin exposure," according to Bloomberg Senior ETF Analyst Eric Balchunas, who posted excerpts of the report to X on Thursday.
BlackRock's IBIT exchange-traded fund has over $50 billion in assets under management, according to The Block Data Dashboard .
The price of bitcoin, which recently surpassed $100,000 for the first time, has surged since Donald Trump won the U.S. presidential election last month. With Bitcoin ETFs trading since January and Trump, a president seen as increasingly crypto-friendly, set to take office, BTC and the broader crypto market appear to be gaining unprecedented legitimacy.
Bitcoin was trading hands at $101,761.07 as of 10:09 a.m. ET, according to The Block Price Page .
In November, BlackRock's spot bitcoin ETF overtook its gold ETF in total net assets. While the IBIT bitcoin fund began trading at the beginning of the year, BlackRock's IAU gold fund launched in 2005.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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