(Reuters) – BlackRock Inc. is adding bitcoin futures as an eligible investment to two funds, a company listing said, in a move to bring the world of cryptocurrencies to its customers.
The world’s largest asset manager said it could use bitcoin-derived financial instruments for its BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc. funds.
The funds will only invest in settled bitcoin futures traded on commodity exchanges registered with the Futures Trading Commission, the company said in a deposit with the Securities and Exchange Commission on Wednesday.
CEO Larry Fink told the Foreign Relations Council in December that Bitcoin sees huge giant moves every day and could 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 above 900% from a low in March and barely breaking $ 20,000 in mid-December.
A BlackRock spokesman declined to comment beyond the recordings when contacted by Reuters.
Reporting by Radhika Anilkumar and Bhargav Acharya in Bengaluru; Editing by Arun Koyyur