An SEC deposit (SEC deposit is a financial statement submitted to the U.S. Securities and Exchange Commission) dated June 30, 2021, shows Blackrock.
Blackrock's largest asset manager with $ 9 trillion in assets has acquired significant shares from two bitcoin companies, namely 6.71% in Marathon Digital Holdings and 6.61% in Riot Blockchain.
The total capital commitment amounts to $ 382,962,003.08 million between the two companies.
Among the hundreds of Blackrock mutual funds and ETFs, broad indexes such as the iShares Russell 2000 ETF and the iShares Expanded Tech-Software segment hold cryptocurrency stocks.
The revelation comes after Fidelity Group recently reported receiving similar large shares in bitcoin companies.
The Vanguard Group Valley Forge (in the main photo by Mortimer J. Buckley, chairman, and chief executive officer of Vanguard), based in PA, is the largest shareholder in Marathon Digital and Riot Blockchain, with BlackRock now taking the reins, as revealed in the recent deposition.
The revelation about Blackrock is part of a growing trend of traditional financial institutions and investors increasing their exposure to cryptocurrencies through conventional equity.
BlackRock's first contact in the cryptocurrency market was in 2019 when he hired Robert Mitchnick-photo below, a former product trader for Ripple. He is now BlackRock's head of distributed file technology and digital assets.
In January 2021, BlackRock filed with the Securities and Exchange Commission to include bitcoin futures contracts as eligible investments for two funds, the BlackRock Global Allocation Fund, and the BlackRock Strategic Revenue Opportunity portfolio.
This text is for informational purposes only and in no way replaces the specialized consulting services provided by market experts.
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