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 allocates up to 2% in Bitcoin via IBIT ETF, signaling institutional crypto adoption and boosting Bitcoin’s mainstream growth.

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

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.

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,