Blackrock, the world’s largest asset manager with $ 7.81 trillion under management, is entering bitcoin. The company has filed with the U.S. Securities and Exchange Commission (SEC) for two of its funds to invest in bitcoin futures.
Blackrock Gets Into Bitcoin
Blackrock filed two “additional statements of information” with the SEC on Wednesday. One was for Blackrock V Funds and the other was for Blackrock Global Allocation Fund Inc. Both files state:
Some funds may enter into bitcoin-based futures contracts.
Both files further detail, “The only bitcoin futures the funds can invest in is the future of bitcoin settled with cash traded on commodity exchanges registered with the CFTC.”
The documents also warn that “Regulatory changes or actions may alter the nature of investment in bitcoin futures or restrict the use of bitcoin or the operations of the bitcoin network or exchanges on which bitcoin trades in a way that adversely affects on bitcoin futures price, which could adversely affect a fund. ”
In December, Blackrock CEO Larry Fink made some bullish statements about bitcoin. He said: “Can [bitcoin] evolve into a global market? Possibly. “Furthermore, he noted that” Having a digital currency makes the US dollar less relevant. “
Blackrock joins several other asset management companies that invest in bitcoin, including British fund manager Ruffer and Skybridge. In addition, Guggenheim plans to invest in the near future, pending approval of the SEC.
What do you think of Blackrock investing in bitcoin futures? Let us know in the comments section below.
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