The world's largest asset management firm, BlackRock has reportedly received two fund approvals allowing investment in Bitcoin (BTC) futures.
Through a prospectus filed with the Securities and Exchange Commission (SEC) yesterday, BlackRock Global Allocation Fun Inc. and BlackRock Funds V chose bitcoin and several other assets as part of the investment scheme.
However, BlackRock does not mention the exchange of commodities selected to make cryptocurrency futures purchases.
The file also outlines some liquidity risks caused by new markets involving investments in futures. Among them, regulatory changes, volatility risks and valuations also affect prices, including funds.
BlackRock's involvement in Bitcoin is a big step as this giant firm has never mentioned it in any media attention.
However, in November 2020, the Chief Information Officer, Rick Rider gave a hint, describing the crypto currency as being able to replace gold due to its various functions.
At the time of writing, BTC is trading at $ 34,670 with a decline of 2.35%.
