Blackrock to add bitcoin as a worthy investment of two funds

BlackRock Inc is adding bitcoin futures as a qualified investment for two funds, a company filing, shown in a move to bring the world of cryptocurrency to its customers.

Click Here To Get Fox Trade On The Go

The world’s largest asset manager said it would fund its Blackrock Strategic Income Opportunities and Blackrock Global Allocation Income.

Funds traded on commodity exchanges registered with the Commodity Futures Trading Commission will only invest in cash-settled bitcoin futures, the company said in a filing to the Securities and Exchange Commission on Wednesday.

The anchor Security last Change Change %
BLK BLACKROCK INC. 741.54 +7.89 + 1.08%

Chief Executive Officer Larry Fink said at the Council on Foreign Relations in December that bitcoin is seeing huge giant moves every day and could possibly develop into a global market.

Earlier this month, the world’s most popular cryptocurrency bitcoin hit a record high of $ 40,000, rallied more than 900% in March and only lost $ 20,000 in mid-December.

Read more on Fox Business

When contacted by Reuters, a BlackRock spokeswoman declined to comment beyond the filing.

(Reporting of Radhika Anilkumar and Bhargava Acharya in Bengaluru; Editing by Arun Koyur)

Leave a Reply

Your email address will not be published.