BlackRock Says Bitcoin Still Earns a Portfolio Role After a 53% Drawdown

BlackRock Says Bitcoin Still Earns a Portfolio Role After a 53% Drawdown


An investor at a laptop with physical Bitcoin coins and cash while weighing portfolio risk image By Isaac • September 2, 2026 11:22 pm •

Bitcoin investors can end up at nearly the same destination as stock investors while taking a radically rougher road to get there.

That is the uncomfortable lesson in a fresh comparison between BlackRock’s iShares Bitcoin Trust and a broad S&P 500 fund.

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Through August 31, IBIT held a narrow total-return lead since its January 2024 launch. Bitcoin ETF holders had to absorb a drawdown of more than 53% along the way.

BlackRock’s conclusion is not that Bitcoin has failed. The asset manager says a measured allocation can still improve the risk-adjusted performance of a traditional portfolio.

CryptoSlate calculated that IBIT returned 67.74% from its January 11, 2024 debut through August 31, 2026, while Vanguard’s S&P 500

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