Bitcoin News: BlackRock’s Global Allocation Fund Significantly Boosts Bitcoin ETF Holdings

In a recent move that signals a growing interest in Bitcoin among institutional investors, BlackRock’s Global Allocation Fund has substantially increased its holdings in a Bitcoin ETF.

BlackRock’s Global Allocation Fund Boosts Bitcoin ETF Holdings to $47.4M

BlackRock’s Global Allocation Fund has significantly increased its Bitcoin ETF holdings to $47.4 million, according to a recent SEC filing. The fund added 390,894 shares of the iShares Bitcoin Trust (IBIT) between November 2024 and January 2025, boosting its Bitcoin exposure by 91%. As of January 31, 2025, the fund possessed 821,664 shares of IBIT equity, representing a 0.25% allocation to Bitcoin. The rise in Bitcoin prices in 2025 has driven institutional interest in cryptocurrency to become more prominent.

Dunamu, Operator of Upbit, Posts 85% Surge in Operating Profit

Dunamu, the operator of South Korean crypto exchange Upbit, reported an 85.1% increase in operating profit for 2024. The surge was fueled by Bitcoin’s halving and pro-crypto policies in the U.S. The company’s revenue reached KRW 1.7316 trillion (around $1.3 billion), up 70.5% from the previous year. Dunamu attributes the growth to Bitcoin halving and improved investor sentiment, as well as hopes around U.S. policies favorable to cryptocurrencies.

South Carolina Joins the Bitcoin Revolution

South Carolina has introduced a bill allowing the State Treasurer to invest up to an unspecified amount in Bitcoin, with a certain cap. If passed, this move would make South Carolina one of the first U.S. states to officially allocate public funds to Bitcoin. The bill reflects growing institutional interest in Bitcoin as a store of value, signaling a potential shift in how states manage their financial reserves.

Bitcoin Struggles Below $86,000 While Gold Soars to New High

Bitcoin’s price stalls below the $86,000 mark, contrasting sharply with gold’s new historic high of $3,059 per ounce. This shift reflects a change in market sentiment as investors retreat to safe havens amid fears of a trade war triggered by the US’s decision to impose tariffs on imported vehicles and Chinese electric vehicles. The US GDP revision upwards to 3.4% in Q4 2024 and the drop in unemployment figures also contribute to the risk-averse market environment.

Bitcoin Struggles Below $88K, Needs $90K Breakout

Bitcoin faces resistance between $88K and $91K, limiting upward momentum. The cryptocurrency holds steady above $85,000, but upside remains constrained as this range has turned into a formidable barrier, preventing further gains. Without a clear breakout, Bitcoin may stay range-bound, weighed down by technical factors and broader economic pressures. Additionally, whales have reduced their holdings by 290K BTC over five months. Cryptocurrency trader Daan Crypto Trades also highlighted that Trump’s upcoming tariff policies could play a key role in Bitcoin’s price movements, expecting BTC to consolidate around the mid-$80,000 range.