Blackstone buys $1M worth of Bitcoin ETF in first crypto bet
Blackstone, which bills itself as the “the world’s largest alternative asset manager,” disclosed its first-ever crypto-related purchase, buying shares in BlackRock’s spot Bitcoin exchange-traded fund.
However, Blackstone’s investment, reported in a May 20 filing with the US Securities and Exchange Commission, only totaled around $1.08 million — a fraction of the asset manager’s $1.2 trillion portfolio.
Blackstone reported holding 23,094 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) as of March 31.
The IBIT shares were added to Blackstone’s Alternative Multi-Strategy Fund (BTMIX), which holds $2.63 billion worth of assets, Google Finance data shows.
The filing shows Blackstone also bought 4,300 shares in crypto ATM…
