BlackRock Adds Bitcoin ETF (IBIT) to Model Portfolios Amid Market Volatility

BlackRock, managing $11.5 trillion in assets, has incorporated its iShares Bitcoin Trust (IBIT) into its model portfolios, as confirmed on Friday. This includes the Target Allocation with Alternatives and the Target Allocation with Alternatives Tax-Aware portfolios. The allocation will be a small slice of BlackRock's $150 billion model portfolio universe, with a 1%-2% allocation into IBIT. Despite recent market volatility, including a drop in Bitcoin to under $84,000 and nearly $3 billion in outflows from spot Bitcoin ETFs this past week, BlackRock maintains that Bitcoin has long-term investment merit. IBIT, despite outflows exceeding $700 million this week, remains the largest spot Bitcoin ETF, having attracted over $37 billion since its January launch.