BlackRock Adds Bitcoin ETF (IBIT) to Model Portfolios, Allocates 1-2%

New York, [Current Date] - BlackRock has incorporated its iShares Bitcoin Trust (IBIT) into its model portfolios, allocating 1% to 2% to IBIT for portfolios with higher risk tolerance. IBIT, holding $48.3 billion in assets, is now part of the Target Allocation with Alternatives and Target Allocation with Alternatives Tax-Aware portfolios. Despite recent outflows of $700 million this week and nearly $3 billion over the past week from spot Bitcoin ETFs, BlackRock views Bitcoin as a long-term investment with diversification benefits. IBIT has amassed over $37 billion in inflows since its launch, significantly outpacing competitors. This move aims to provide investors with increased access to cryptocurrency, even amidst market volatility where Bitcoin has seen a 13% drop in the past month.