Market analysis confirms that BlackRock, a $9 trillion multinational investment manager, has successfully made more significant investments into the leading two publicly traded Bitcoin mining firms, with the firm seeding $384 million in shares.
In a June 30 mandatory SEC filing, BlackRock confirmed that it had invested nearly $400 million into two leading publicly traded Bitcoin mining firms, Riot Blockchain (RIOT) and Marathon Digital Holdings (MARA).
The filing confirmed that BlackRock has successfully purchased nearly $207 million worth of Marathon and $176 million Riot shares. Based on data acquired from Etf.com, BlackRock-owned exchange-traded fund, iShares Russell 2000, held more shares in both Marathon and Riot than any other ETF, while iShares Russell 2000 Value ETF also ranks the third on the same metrics.
On several occasions, BlackRock has indulged in investments within the digital asset sector, with the firm filing an application with SEC in January for two of its funds to purchase cash-settled Bitcoin futures contracts.
Upon SEC approval in April, BlackRock successfully bought 37 BTC futures contracts using its Global Allocation Funds from Chicago Mercantile Exchange (CME).
Nonetheless, with few crypto products offering institutional investors regulated exposure in the United States, Bitcoin mining stocks have turned out to be increasingly popular investments recently.
Remarkably, under Bitcoin’s current surge of 288% over the past 12 months, both Marathon and Riot have exponentially soared, exploding 754% and 894%, respectively.
On the other hand, Fidelity Group and Vanguard Group are among the top five largest firms that have obtained significant exposure in recent months. According to Etf.com, Vanguard-owned ETFs, Total Stock Market ETF, and Information Technology ETF rank position four and five of the largest funds in Riot shares.
Vanguard’s Small-Cap ETF and Small-Cap Growth ETF rank fourth and fifth largest ETF holders of MARA shares, with Fidelity MSCI Information Technology Index ETF taking the fifth position in both MARA and Riot among the best top five performing ETFs.
