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BlackRock Adds Bitcoin to Its Global Allocation Fund Portfolio

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Today’s Cryptocurrency Headline

Asset management giant BlackRock has added bitcoin to the portfolio of its BlackRock Global Allocation Fund, Trustnode reported. BlackRock said in a filing that the fund may invest in cash-settled bitcoin futures traded on commodity exchanges registered with the Commodity Futures Trading Commission. It was one of the first general funds to add bitcoin to its portfolio. It is reported that the BlackRock Global Allocation Fund invests in stocks, bonds and short-term securities of corporate and government issuers on a global scale, without prescribed restrictions.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin has hit the resistance level of $17,000 twice in a row, and it still has not successfully broken through. At present, Bitcoin has risen and fallen back, but there is still the possibility of a rebound in the short term. If Bitcoin starts a rally, its sustainability will be crucial. This determines whether Bitcoin can break through the current narrow consolidation range to gain more upward momentum.

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