While the ETF Bitcoin are out of series capital outings, BlackRock chooses a counter-intuitive approach by integrating its BTC ETF, the Ishares Bitcoin Trust (IBIT), its model wallets. A first for the asset management giant, who could well cause a domino effect among his competitors. But what does this strategy really hide?
A breakthrough measured but symbolic on the Bitcoin ETF
Blackrock, who manages more than $ 10,000 billion in assetsdid not set his sights on Bitcoin by chance. Its IBIT model, weighing $ 48 billion and holding nearly 576,046 BTC, between now in its model portfolioswith an allowance of 1 to 2 %.
If this part may seem modest, it constitutes a strong signal for the market.
- Blackrock manages about $ 150 billion in model wallets;
- Ibit represents 2.9 % of the entire bitcoin in circulation;
- The BlackRock ETF BTC is already one of the most massive in the sector;
- The IBIT allowance is part of targeted alternative strategies.
According to James Seyffart, ETF analyst at Bloomberg Intelligence, this decision could encourage other asset managers to follow. But the real question is: Ibit will one day be part of the main blackrock models ? Some see it as a revolution, others a simple experiment. And you ?
Blackrock: a strategic chess game on the crypto market
The BlackRock initiative is not based solely on theSpeculative attraction of the BTC. Michael Gates, responsible for allocation models at Blackrock, justifies this decision by advancing several arguments in favor of Bitcoin: its rarity, its status of reserve of value and its role of coverage against the hegemony of the dollar.
“” Collectively, these characteristics can offer unique and additive diversification sources “, He writes in a note.
In addition, the context plays in favor of the asset manager. Despite the recent fall in the BTC course at $ 79,000, regulations soften and the institutional interest in cryptos does not weaken. Some analysts even believe that this decision could strengthen the adoption of Bitcoin in the major investment funds.
However, everything is not so simple. As Keegan, specialist in decentralized finance points out:
“” If this is materialized, the flows may not move the needle immediately, but the risk reduction signal sent to other model managers, with more than $ 5,000 billion under management, is crucial. »»
Blackrock does he start a Bitcoin standardization in institutional allowances ?
In short, it is not surprising that Michael Saylor is concerned about the rise of BlackRock in the crypto sphere. The boss of Microstrategy does not hide his apprehension in the face of the giant's appetite and encourages investors not to give in to this mastodon of finance. But you have to keep in mind that Blackrock is not limited to BTC and ETH ETH: it also offers an ETP Bitcoin in Europe, thus expanding its influence on the global crypto market. Is the revolution underway?
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