[Blockchain Today Reporter Seungwon Jeong] Cointelegraph reported that BlackRock Financial Management has entered the Bitcoin futures market.
According to Blackrock’s monthly portfolio investment report released by the US Securities and Exchange Commission (SEC), the company signed 37 bitcoin futures contracts that expired on the 26th of last month (local time) through the Chicago Commercial Exchange. The contract was valued at $360,457.
The gains from Bitcoin (BTC) futures represent about 0.00142% of Blackrock’s global allocation fund, which is worth 6.12 BTC at this time. The company manages a total of over $8.6 trillion in assets.
Last month, the company’s chief investment officer Rick Ryder said, “Blackrock started fiddling with cryptocurrencies.” .
At the time, Rider said, “It makes sense to me to keep some of the cash in things like cryptocurrencies, but I’m not going to set a specific allocation or target holding amount.” I think it has come to the point of having to keep it as part of it.”
In January, Blackrock’s two client reports filed with the SEC cited bitcoin, indicating the potential for multi-trillion dollar asset managers to use cryptocurrency derivatives and other assets as part of their investment plans.
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