Blackrock to include Bitcoin as eligible investment to two funds
BlackRock Inc., a global investment manager and technology provider, is adding bitcoin futures as an eligible investment to two funds, according to a company filing. With this development, Bitcoin continues to expand its reach to the mainstream financial system.
The U.S.-based asset manager said it could use bitcoin derivatives for its funds BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc.
Filing to the Securities and Exchange Commission on Wednesday, the world’s largest asset manager also said the funds will invest only in cash-settled bitcoin futures traded on commodity exchanges registered with the Commodity Futures Trading Commission
Just weeks ago, Bitcoin, the world’s most popular cryptocurrency, posted a fresh record high of $40,000, rallying more than 900% from a low in March and having only just scaled $20,000 in mid-December.