BlackRock to add bitcoin as a worthy investment for two assets

PHOTO FILE: A sign for BlackRock Inc hangs above their building in New York USA, July 16, 2018. REUTERS / Lucas Jackson

(Reuters) – BlackRock Inc is putting bitcoin futures as a worthy investment for two assets, a company filing showed, in a move to bring the cryptocurrency world to their clients.

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

The currency will only be invested in futures based on bitcoin traded on commodity exchanges registered with the Futures Trading Commission, the company said in a filing to the Securities and Exchange Commission on Wednesday. .

Chief Executive Larry Fink had said at the Foreign Relations Council in December that bitcoin is seeing big big moves every day and could lead to a global market move. (bit.ly/2XXFHrB)

Earlier this month, Bitcoin, the world’s most popular cryptocurrency, hit a record high of $ 40,000, picking up more than 900% from a low in March and just breaking $ 20,000 in mid-December.

A BlackRock spokesman declined to comment on the films when Reuters contacted them.

Reporting by Radhika Anilkumar and Bhargav Acharya in Bengaluru; Edited by Arun Koyyur

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