BlackRock funds open to Bitcoin futures — here’s what they hold
BlackRock — the largest asset manager in the world — seems to be preparing to gamble on Bitcoin’s future price.
In docs filed Wednesday, BlackRock notified the SEC its funds V and Global Allocation could soon invest in Bitcoin derivatives like futures, as well as others tied to assets including stocks, gold, and oil.
Bitcoin futures let speculators bet on the cryptocurrency’s future price, allowing them to profit from BTC’s movements without holding the asset themselves.
According to a BlackRock disclosure filed at the end of 2020, its Global Allocation Fund manages around $23.8 billion worth of investments, including longs, shorts, options, and futures.
Stocks including Microsoft and Apple make up most of the its holdings — alongside more than $3 billion in government bonds from around the world.
BlackRock’s Global Allocation Fund did however hold around $16.5 million in futures of different kinds at the end of 2020.
[Read more: How Grayscale’s cryptocurrency portfolio grew $25B in one year]
As for BlackRock’s collection of funds known as Funds V, it mostly invests in debt from governments and corporations around the world.
Predominantly, that means bonds from the US, China, and the UK — but Funds V portfolios also manage plays in smaller markets like South Korea and Spain, too.
BlackRock overall boasts more than $8.7 trillion in assets under management. Now, let’s see how much of it ends up on CME futures.