BlackRock Joins Fidelity And Becomes Bitcoin Mining Investor

It’s been just reported that there’s a mandatory SEC filing that’s showing the fact that Blackrock, which is the world’s largest asset manager having $9 trillion in assets, has taken important stakes in two BTC miners.

These are 6.71% in Marathon Digital Holdings and 6.61% in Riot Blockchain.

Another issue worth mentioning is that total capital commitment amounts to $382,962,003.08 million between both miners.

Among Blackrock’s hundreds of mutual funds and ETFs, broad indexes like its iShares Russell 2000 ETF and its iShares Expanded Tech-Software Sector are owning the crypto miner shares.

According to the latest reports, disclosure comes after Fidelity Group recently reported that it had taken similarly large stakes in the bitcoin miners.

Valley Forge, PA-based Vanguard Group is currently the largest shareholder in Marathon Digital and Riot Blockchain. It’s also worth noting the fact that BlackRock is leading behind after the disclosure of the recent filing.

Traditional financial institutions boost crypto exposure

The BlackRock disclosure is a part of a larger trend of traditional financial institutions, and investors are gearing up to boost their exposure to crypto via traditional equity.

Forbes reminds readers that back in January, BlackRock also files some documents with the US SEC in order to include cash-settled BTC futures as eligible investments for two other of its funds.

These are the BlackRock Global Allocation Fund and the BlackRock Strategic Income Opportunities Portfolio.

On Twitter, the news was embraced with enthusiasm, but there were also other types of opinions that were revealed in the comments section.

For instance, check out the one below.

Regarding Bitcoin mining, not too long ago, we were revealing that Fortune magazine just posted a piece about Bitcoin mining, titled “Bitcoin mining is suddenly one of the most profitable businesses on the planet.”

Bitcoin mining becomes one of the most profitable businesses on the planet.

Other than this, the crypto market looks great, with the most important coins trading in the green. Stay tuned for more news from the crypto space.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.