: BlackRock's CIO of Fixed Income, Rick Rieder, noted that Bitcoin was "here to stay" and could potentially replace gold as a store of value. Where is BlackRock Now? (Current Status)
Since those early moves, BlackRock's involvement has evolved from "dabbling" in futures to dominating the spot market. iShares Bitcoin Trust ETF | IBIT - BlackRock
The "interesting story" you're referring to dates back to , when BlackRock first authorized two of its major funds—the BlackRock Global Allocation Fund and the BlackRock Strategic Income Opportunities Portfolio —to invest in cash-settled Bitcoin futures.