The central theses
- BlackRock has announced plans to allocate funds for Bitcoin futures in two new filings with the US Securities and Exchange Commission.
- The company has been researching blockchain since 2015.
- However, BlackRock has yet to make a Bitcoin investment.
Share this article
BlackRock plans to invest in Bitcoin futures, according to two new records with the US Securities and Exchange Commission.
Two filings with the SEC
Two filings (titled BlackRock Funds V and BlackRock Global Allocation Fund, Inc.) relate to the possibility of BlackRock investing in Bitcoin futures contracts. Each filing states that certain BlackRock funds “may enter into Bitcoin-based futures contracts”.
Each document also describes the risks of Bitcoin, namely regulatory changes, price volatility and illiquidity due to low trading volumes.
The filings do not specifically concern Bitcoin. Many other types of investments are also discussed, including stocks and commodities.
No investment yet
BlackRock initially showed interest in cryptocurrency when it put together a blockchain working group in 2015. In 2018, the company considered the option of a Bitcoin Exchange Traded Fund (ETF), which has not yet been approved in the US.
The company’s interest in cryptocurrency has gradually developed since then. Last November, the company’s chief investment officer suggested that Bitcoin had the potential to replace gold.
If the plans outlined in this month’s SEC filings continue, it will be the company’s first Bitcoin-related investment. However, it is not yet clear whether the plans proposed by BlackRock will be approved or implemented.
BlackRock is the world’s largest wealth management company. It currently manages more than $ 7.8 trillion.
At the time of writing, this author held less than $ 50 in Bitcoin, Ethereum, and Altcoins.
Bitcoin will replace gold, says BlackRoc, the world’s largest wealth company …
In a CNBC interview, Rick Rieder, the investment manager at BlackRock Inc., said that Bitcoin is more functional than gold. Blackrock’s Bitcoin Hedging Recently, Rieder was optimistic about …
Micro-strategy holds 3 times more Bitcoin than Crypto Fund Galaxy Digit …
An SEC filing dated December 4 revealed that Microstrategy bought another 2,574 Bitcoin for an average price of $ 19,427. The company thinks most of Bitcoin is a publicly traded company. Micro-strategy …
Coinbase is preparing to go public
Coinbase has filed Form S-1 with the Securities and Exchange Commission in confidence, indicating that the company is preparing to sell a publicly traded stock through an IPO. Coinbase Announces SEC Registration …