The largest asset manager BlackRock has added bitcoin as one of the assets to its global allocation fund for passive investors (Global Allocation Fund).
The Blackrock Global Investment Fund manages $15 billion in assets. It invests worldwide in stocks, debt and short-term securities of both corporate and government issuers, without any established restrictions.
This fund seeks to invest mainly in assets that, according to analysts, are undervalued. And now he has added BTC futures to the list of his services, which are listed on exchanges and have been registered with regulators.
In 2021, BlackRock began showing interest in bitcoin as an alternative defensive asset. The company has filed two notices with the US Securities and Exchange Commission (SEC) that some of its funds may invest in bitcoin futures.
Later, BlackRock began working with bitcoin through regulated futures on the Chicago Mercantile Exchange (CME). As of early 2021, the company held 37 contracts with a par value of $6.1 million and an unrealized profit of $360,000.
In 2022, the company launched a trust aimed at US institutions that tracks the price of bitcoin.
Recall that BlackRock used to see prospects for bitcoin.
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