Is this BlackRock eating it's own dogfood?
Can anyone explain this because it's kind of confusing. Blackrock owns IBIT BTC ETF yet they are planning to "buy" some shares for their "Strategic Income Opportunities Fund".
So, are they bundling products for yet another offering to the public? How does this help them?
Anyone? Anyone? Bueller? Bueller?
https://decrypt.co/220162/blackrock-bitcoin-etf-strategic-income-fund-sec
Assuming this is like blackrock buying bitcoin (etf) for themselves on their own balance sheet rather than providing/ holding it technically on behalf of clients
diversification?
Buy their own fund for managed fund that they sell to others and they get good performance (when IBIT goes up with BTC) and they pay themselves the management fee! Win-win!
They manage the etf for a 1.5% fee or whatever that's open to anyone on the street to buy. They manage many etfs.
But they also do asset management where people give them money to deploy. Strategic income opportunities would be a "fund of funds". Where the fund owns multiple asset classes it's like a diversified portfolio. They are just saying they will be adding IBIT exposure as a part of that fund. Some funds are available just to clients. ETFs ETNs etc are available to anyone with a brokerage account.
Sounds like some fiat shenanigans going on.
P.S great film
