BlackRock adds BTC ETF to $150B model portfolio product – BitRss

BlackRock, a global investment firm with $11.5 trillion in assets under management, has added its Bitcoin exchange-traded fund (ETF) to its model portfolio product, according to a Feb. 28 report from Bloomberg. Portfolios that allow for alternative assets will be able to put a 1%–2% allocation into the firm’s iShares Bitcoin ETF Trust (IBIT), potentially creating new demand for the exchange-traded fund.

The 1%–2% allocation is due to Bitcoin’s (BTC ($86,020.98)) volatility, which the firm called a “reasonable range” in a paper authored by the BlackRock Investment Institute. Anything more would significantly increase the crypto’s share of the total portfolio risk.

BlackRock’s $150-billion model portfolio product contains a range of investment portfolios that are sold to financial advisers who manage assets for their clients. The por…