Tue. Oct 19th, 2021

The lawsuits filed by the $ 9 trillion multinational investment manager, BlackRock, reveal that the firm has made significant investments in two major listed Bitcoin mining companies. A presentation filed on June 30 with the U.S. Securities and Exchange Commission, discovered by Forbes, shows that BlackRock owns a 6.71% stake in Marathon Digital Holdings (MARA) and 6.61% of Riot Blockchain (RIOT). ).

In total, the investments are valued at nearly $ 384 million, with BlackRock acquiring nearly $ 207 million in Marathon and $ 176 million in Riot. According to Etf.com, BlackRock’s iShares Russell 2000 ETF has more shares in Marathon and Riot than any other ETF, while the iShares Russell 2000 Value ETF ranks third to the same extent.

BlackRock’s investments are not the first in the digital assets sector, as the firm filed a lawsuit with the SEC in January for two of its funds to acquire cash-settled Bitcoin futures contracts, before disclosing to the April that his BlackRock Global Allocation Fund had purchased 37 Chicago Mercantile Exchange BTC futures contracts. With few products offering institutional investors regulated exposure to the crypto markets in the United States, Bitcoin mining stocks have become an increasingly popular investment in recent years.

BlackRock ETFs have $ 384 million shares in Bitcoin mining companies, Cointelegraph, on August 20

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