BlackRock ETFs Hold $ 384 Million in Shares in Bitcoin Mining Companies

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Documents filed by $ 9 trillion multinational investment manager BlackRock reveal that the company has made significant investments in two large publicly traded Bitcoin mining companies.

A June 30 filing with the U.S. Securities and Exchange Commission, unearthed by Forbes, shows BlackRock has a 6.71% stake in Marathon Digital Holdings (MARA) and 6.61% in Riot Blockchain (RIOT ).

In total, investments are valued at nearly $ 384 million, with BlackRock having bought nearly $ 207 million from Marathon and $ 176 million from Riot.

According to Etf.com, the BlackRocks iShares Russell 2000 ETF holds more shares in Marathon and Riot than any other ETF, while the iShares Russell 2000 Value ETF ranks third by the same measure.

Investments aren’t BlackRocks first in the digital asset sector, with the company filing an SEC application in January for two of its funds to buy cash-settled Bitcoin futures, before revealing in April that its BlackRock Global Allocation Fund had bought 37 BTC futures contracts from Chicago Mercantile Exchange.

With few products offering institutional investors regulated exposure to the crypto markets in the United States, Bitcoin mining stocks have become an increasingly popular investment in recent years.

While BTC has risen by around 288% over the past 12 months, Marathons stock has jumped 754% and Riot has gained 848%.

Related: You Can Already Invest In Hundreds Of ETFs With Bitcoin Exposure

Fidelity Group and Vanguard Group among large companies that have gained significant exposure to the BTC mining sector in recent months.

Vanguards Total Stock Market ETF and Information Technology ETF rank fourth and fifth among funds by RIOT holdings, while Small-Cap ETF and Small-Cap Growth ETF rank fourth and fifth largest ETF holders of MARA shares, according to Etf. com.

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