BlackRock Inc. (BLK) has added the iShares Bitcoin Trust (IBIT), its spot bitcoin ETF, to two of its model portfolios, the company confirmed to etf.com Friday. IBIT—the largest of the spot bitcoin ETFs with $48.

BlackRock, the world's largest asset manager, is including its Bitcoin ETF in a sliver of its Target Allocation with Alternatives portfolios.

BlackRock, the world’s largest asset manager, is incorporating Bitcoin into its $150 billion model-portfolio universe. The firm is adding a 1% to 2% allocation of the iShares Bitcoin Trust ETF (IBIT) to its target allocation portfolios that allow for alternatives,

BlackRock added a 1% to 2% allocation to IBIT in its target allocation portfolio that allows for alternative assets, according to James Seyffart, ETF analyst at Bloomberg Intellig

BlackRock includes Bitcoin ETF in its model portfolios with 1%-2% allocation, highlighting its strategic focus on diversification.

The addition sounds risky at a time of cratering bitcoin prices, but the asset management titan says advisor demand is strong.

The iShares Bitcoin ETF (IBIT) has done well and broken records in the financial services industry as its assets surged to over $54 billion. This is a great performance since the popular SPDR Gold ETF (GLD),

BlackRock plans to add a small 1% to 2% bitcoin allocation to its target allocation portfolios that include alternatives for the first time through its iShares Bitcoin Trust ETF, according to a Feb. 27 investment commentary written by BlackRock’s target allocation team.

Invesco (NYSE:IVZ), and Fidelity Investments have launched a wave of exchange-traded funds intended to bring to retail traders strategies once available only to financial elites. The three firms recently filed to start so-called managed futures ETFs,