BlackRock Strategic Income Fund significantly increased its holdings in BIT in Q3, with current holdings valued at over $150 million.

BlackRock's proprietary mutual fund - the Strategic Income Opportunities Portfolio - has recently increased its holdings in the iShares Bitcoin Trust (IBIT), indicating that institutional interest in Bitcoin continues to heat up. According to the latest documents filed with the SEC, as of September 30, the portfolio held 2,397,423 shares of IBIT, valued at approximately $155.8 million, an increase of 14% compared to 2,096,447 shares at the end of June.

The Strategic Income Opportunity Portfolio is a non-restricted bond fund that covers government bonds, corporate credit, mortgages, emerging markets, and cash-like assets. Its flexible investment authority allows the fund to increase its holdings in non-traditional assets such as ETFs while pursuing total return and diversification, thereby incorporating Bitcoin trusts into the fixed income portfolio.

This week, IBIT is also in the spotlight. The Nasdaq ISE has submitted an application to increase the IBIT options position limit to 1 million contracts. Fintel data shows that the institutional holdings of IBIT are steadily increasing, currently reaching the highest level since its issuance, with total institutional holdings exceeding 400 million shares.

On the market side, the price of Bitcoin surpassed $91,000 on Friday, while BIT rose about 2% in pre-market trading, reported at $52 per share. The sustained growth in institutional demand and the active options market further highlight Bitcoin's position and potential in institutional portfolios. (CoinDesk)