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BlackRock Inc is adding bitcoin futures as a qualifying investment to two funds, a company deposit showed, with the aim of bringing the world of cryptocurrency to its customers.
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The world’s largest asset manager has said it could use Bitcoin derivatives for its BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc.
The funds will only invest in cash-settled bitcoin futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission, the company said in a filing with the Securities and Exchange Commission on Wednesday.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 741.54 | +7.89 | + 1.08% |
CEO Larry Fink told the Council on Foreign Relations in December that bitcoin sees big giant moves every day and could eventually evolve into a global market.
Earlier this month, Bitcoin, the world’s most popular cryptocurrency, hit a record high of $ 40,000, rallying over 900% from a March low and just breaking through $ 20,000 at the mid-December.
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A BlackRock spokesperson declined to comment beyond the filings when contacted by Reuters.
(Reporting by Radhika Anilkumar and Bhargav Acharya in Bengaluru; Editing by Arun Koyyur)
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