BlackRock Adds Bitcoin ETF To Model Portfolio

According to Foresight News, Bloomberg reports that BlackRock has introduced its Bitcoin ETF into its model investment portfolio, potentially creating a new demand channel for IBIT. BlackRock has allocated 1% to 2% of its $48 billion iShares Bitcoin Trust ETF (ticker: IBIT) to allow for alternative investments. Although this represents a small portion of BlackRock's overall model portfolio business, it opens a potential demand path for IBIT amid a downturn in cryptocurrency sentiment. Model portfolios, which package funds into ready-made strategies for sale to financial advisors, have seen significant growth in recent years. Adjustments to their holdings can lead to substantial capital flows in either direction.