(Reuters) – BlackRock Inc. adds bitcoin futures as an eligible investment to two funds, showed a presenting company, in a move to bring the world of cryptocurrency closer to its customers.
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 only invest in cash-settled bitcoin futures traded on commodity exchanges registered with the Commodity Futures Trading Commission, the company said in a statement to the Securities and Exchange Commission on Wednesday.
CEO Larry Fink had said in December of the Foreign Affairs Council that Bitcoin is seeing huge giant moves every day and that it could possibly evolve into a global market. (bit.ly/2XXFHrB)
Earlier this month, Bitcoin, the world’s most popular cryptocurrency, hit a record high of $ 40,000, hovering more than 900% from a low in March and ending up hitting $ 20,000 in mid-December.
A BlackRock spokesman declined to comment beyond the presentations when contacted by Reuters.
Reports of Radhika Anilkumar and Bhargav Acharya in Bengaluru; Edited by Arun Koyyur