BlackRock recommends bitcoin allocation of up to 2% in multi-asset portfolios
2024-12-12
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BlackRock, the world's largest asset manager with $11.5 trillion in assets under management and issuer of the largest spot Bitcoin ETF, recommended allocating up to 2% of some investors' portfolios to bitcoin in a report released Thursday.
In a new report outlining how to approach including bitcoin in a "multi-asset portfolio," BlackRock called 1% to 2% a "reasonable range for a bitcoin exposure," according to Bloomberg Senior ETF Analyst Eric Balchunas, who posted excerpts of the report to X on Thursday.
BlackRock's IBIT exchange-traded fund has over $50 billion in assets under management, according to The Block Data Dashboard.
The price of bitcoin, which recently surpassed $100,000 for the first time, has surged since Donald Trump won the U.S. presidential election last month. With Bitcoin ETFs trading since January and Trump, a president seen as increasingly crypto-friendly, set to take office, BTC and the broader crypto market appear to be gaining unprecedented legitimacy.
Bitcoin was trading hands at $101,761.07 as of 10:09 a.m. ET, according to The Block Price Page.
In November, BlackRock's spot bitcoin ETF overtook its gold ETF in total net assets. While the IBIT bitcoin fund began trading at the beginning of the year, BlackRock's IAU gold fund launched in 2005.
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