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BlackRock Inc is adding bitcoin futures as an eligible investment to two funds, a company document showed, in a move to bring the world of cryptocurrency to its customers.
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The world’s largest asset manager said it could use bitcoin derivatives for its BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc. funds
The funds will invest only in cash-settled bitcoin futures 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.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 741.54 | +7.89 | + 1.08% |
CEO Larry Fink told the Council on Foreign Relations in December that bitcoin is undergoing huge giant movements every day and could possibly evolve into a global market.
Earlier this month, Bitcoin, the world’s most popular cryptocurrency, hit a record high of $ 40,000, rising more than 900% from a low in March and having broken just $ 20,000 in mid-December.
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A BlackRock spokesman declined to comment beyond the records when contacted by Reuters.
(Reporting by Radhika Anilkumar and Bhargav Acharya in Bengaluru; Editing by Arun Koyyur)