Blackstone buys $1M worth of Bitcoin ETF in first crypto bet

Blackstone reported holding just over $1 million worth of shares in BlackRock’s spot Bitcoin ETF as of March 31, its first ever crypto-related purchase.

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.

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