On Thursday it was reported that BlackRock raised over $ 382 million in shares of Marathon Digital Holdings & Riot Blockchain. Forbes discovered an SEC filing dated Jan.
Blackrock’s stake is 6.71% ($ 206,791,012.04) in Marathon Digital Holdings and 6.61% ($ 176,170,991.04) in Riot Blockchain, making it the second largest shareholder in both companies, according to Forbes after the Vanguard Group.
The stocks are spread across over 100 mutual funds and hundreds of Blackrocks ETFs and board indices.
On August 10, it was reported that the multinational financial services group Fidelity Investments had also acquired 7.4% of the shares in the well-known North American bitcoin mining operator Marathon Digital Holding.
Earlier this year, Rick Rieder, BlackRock’s chief investment officer for global bonds and head of the global allocation team, said “Bitcoin is an interesting asset,” said Rieder. “I think it’s long-lasting. I think it will be part of the investment arena for years to come.”
The move speaks to the sudden influx of traditionally conservative financial institutions leveling their exposure to Bitcoin through traditional equity and other traditional investment vehicles like the Grayscale Bitcoin Trust.
In fact, BlackRock, Goldman Sachs, Grayscale Bitcoin Trust, and Viridi Funds have recently applied for or started offering investment vehicles tied to Bitcoin ETFs.
In January, Blackrock filed with the SEC to add cash-settled bitcoin futures to the BlackRock Global Allocation Fund and BlackRock Strategic Income Opportunities Portfolio, according to Forbes.
Notably, BlackRock’s investment comes after American bitcoin miners are expected to benefit from China’s mining ban and the subsequent decline and global redistribution of hashing power.