Blackrock has added Ishares Bitcoin Trust (Ibit), the Foundation issued by Asset Manager, who has Bitcoin (BTC), to one of its model portfolios.

These models suggest portfolios and rebalances, which are then followed by advisors and platforms who can also request adjustments to the models based on their investment needs.

Blackrock added an award of 1% to 2% to Ibit in its target distribution portfolio, which allows for alternative assets, according to James Seyffart, ETF analyst at Bloomberg Intelligence.

In a report from Thursday, Michael Gates, head portfolio manager for Blackrock’s Target allocation ETF models, wrote that there are “several material arguments that support Bitcoin’s long-term investment-long.”

According to Gates, this includes Crypto Asset’s Novel Store of Value and Global Monetary Alternative, as well as uncovering the US Dollar Hegemony and Political Instability, and Proxy plays on “Offline” for “online” digital transition of goods and services.

“Overall, these features can help provide unique and additive sources of risk premiums and diversification to traditional multi-active portfolios,” Gates wrote.

The model represents one of Ibit’s smaller portfolios, but the step is significant as it is the first time Blackrock had made the decision to add Ibit to any of their models.

“This is a big thing because this is the first of these models to add Bitcoin,” Seyffart said. “It’s probably not the last, but Bitcoin is also a lightning rod for many – some will hate this while others will love it – so I don’t know if or when they will add ibit to their primary models that have a lot more money on tracking them.”

Blackrock’s model portfolios manage about $ 130 billion in assets.