BlackRock adds bitcoin as a qualifying investment to two funds

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BlackRock Inc is adding bitcoin futures as a qualifying investment to two funds, as the company profile showed, in a move to bring the world of cryptocurrencies to its clients.

The world’s largest asset manager said it could use bitcoin derivatives for its BlackRock and BlackRock Global Allocation Fund Inc.

In a report to the Securities and Exchange Commission, the company said that the funds would only invest in cash-settled Bitcoin futures that are traded on commodity exchanges registered with the Commodity Futures Trading Commission.

CEO Larry Fink said at the Council on Foreign Relations in December that Bitcoin is seeing huge gigantic movements every day and could evolve into a global market.

And earlier this month, Bitcoin, the world’s most popular cryptocurrency, hit a record $ 40,000, rising more than 900% from its March low, and only breaching $ 20,000 in mid-December.

A BlackRock spokesman declined to comment on the filings when contacted by Reuters.



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