The world’s largest asset manager, BlackRock, admitted that two of his funds would trade bitcoin futures. This follows from documents filed with the US Securities and Exchange Commission (SEC).
BlackRock just filed documents with the SEC that contain extensive discussion of Bitcoin. Excerpt: “Certain Funds may engage in futures contracts based on bitcoin.”
This appears to be the first time BlackRock has made such mentions.
Link to filings:https://t.co/qREGtJjIov
— MacroScope (@MacroScope17) January 20, 2021
We are talking about BlackRock Funds V and BlackRock Global Allocation Fund. According to Decrypt, the latter manages $ 16 million, and last year it KING amounted to 19.72%. About 70% of the fund was invested in corporate and government securities.
According to the documents, funds can only trade settlement futures on commodity exchanges registered with the Commodity Futures Trading Commission (CFTC).
BlackRock noted the regulatory risks and relatively low liquidity of bitcoin futures.
BlackRock manages $ 7.8 trillion in assets.
Note that back in 2018, BlackRock CEO Larry Fink argued that cryptocurrencies were not of interest to his clients, but two years later, in 2020, he suggested that the cryptocurrency market would become global.
In November 2020, BlackRock Chief Investment Officer Rick Reeder acknowledged the advantages of Bitcoin over gold.
At the end of the year, the company posted a vacancy for VP of Blockchain.
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