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BlackRock Inc. is adding bitcoin futures contracts as a eligible investment to two funds, which a company has submitted, to bring the world of cryptocurrency to its clients.
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The world’s largest asset manager said it could use bitcoin derivatives for its funds BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc.
The funds only invest in cash-traded bitcoin futures traded on commodity exchanges registered with the Commodity Futures Trading Commission, the company said in a submission to the Securities and Exchange Commission on Wednesday.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 741.54 | +7.89 | + 1.08% |
CEO Larry Fink told the Council on Foreign Relations in December that bitcoin is seeing huge giant movements every day and could potentially develop into a global market.
Earlier this month, Bitcoin, the world’s most popular cryptocurrency, hit a record high of $ 40,000, more than 900% higher than a low in March, and just crossed $ 20,000 in mid-December.
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A BlackRock spokesman declined to comment further than Reuters.
(Reporting by Radhika Anilkumar and Bhargav Acharya in Bengaluru; editing by Arun Koyyur)