BlackRock’s iShares ETF boosts stake in Strategy by $20M

BlackRock just quietly added another 123,472 shares of Strategy, formerly known as MicroStrategy, to its iShares ETF portfolio. The purchase, valued at approximately $20 million, brings the firm’s total position to 1.76 million shares worth around $280 million. The institutional Bitcoin proxy trade keeps growing Strategy has carved out a unique position in public markets. The company, led by executive chairman Michael Saylor, operates a software business while simultaneously functioning as what amounts to a publicly traded Bitcoin treasury. It holds the distinction of being the largest corporate Bitcoin holder on the planet. BlackRock has expanded its Strategy holdings significantly over prior quarters, steadily building a position that now sits comfortably in the hundreds of millions of dollars. Capital International and Vanguard also rank among the largest institutional owners of Strategy shares. BlackRock also manages IBIT, one of the largest spot Bitcoin ETFs on the market. So the firm is effectively building exposure to Bitcoin through multiple channels simultaneously: directly through a spot ETF product it created, and indirectly through equity stakes in a company whose value...