BlackRock has recently submitted its fillings worth $9 trillion. This multinational investment manager has revealed that the firm has made some significant investments in two of the leading bitcoin mining firms, which are publicly traded.
A June 30 filing that it has submitted to the US Securities and Exchange Commission shows that the company is owning a 6.71% stake in Marathon Digital Holdings. Also, there is a 6.61% stake in Riot Blockchain.
In total, the investments are worth $384 million. Black Rock has purchased at least $207 million worth of Marathon shares. The other purchase of $176 million is the worth of Riot’s shares.
According to reports, BlackRock’s iShares Russell 2000 ETF is holding more shares in Marathon and Riot than any other popular ETF. The iShares Russell 2000 Value ETF is ranked third on similar measures.
These investments are not the first ones in the digital asset sector for this company. With the firm applying with SEC in January for two of its funds to buy cash-settled Bitcoin futures contracts, it has also revealed its other investment. They have bought 37 BTC futures contracts from the very popular Chicago Mercantile Exchange.
With a few products offering an exposure regulated by institutional investors to the crypto market of the US, the stocks of bitcoin mining have become a very popular investment in recent days. BTC is now up by 288% from the past 12 months. Marathon’s stocks have also surged 754%. Riot, on the other hand, gained 848%.
Vanguard Group and Fidelity Group are among the large firms that are obtaining impressive exposure to the sector of BTC mining. The Total Stock Market ETF and Information Technology ETF of Vanguard is ranking fourth and fifth respectively as the largest funds by RIOT holdings.
The firm’s Small-Cap ETF and Small Cap Growth ETF, on the other hand, are the fourth and fifth largest holders of the ETF for MARA shares, as per reports.