BlackRock invests in bitcoin futures
According to documents filed by BlackRock with the SEC, their fund invested in Bitcoin futures on the Chicago Mercantile Exchange as early as this winter.
According to the company's report to the U.S. regulator, the profit on 37 contracts exceeded $360,000. This is about 0.00142% of the assets of the BlackRock Global Allocation Fund. At the same time, each futures is equal to 6.12 Bitcoins at the current rate of the main cryptocurrency on Binance.
The total assets of BlackRock controlled are $8.6 trillion and the volume of purchased futures is $6.5 million.
Funnily enough, in December, asset manager BlackRock called Bitcoin "close to legitimacy" as an asset class. And in February, the company's IT director said that they are studying Bitcoin. Because investors are looking for alternative ways to invest their funds.
The CEO of BlackRock confirmed that the company has come a long way to accept cryptocurrencies. In 2018, their customers were not interested in digital currencies. But in the winter of 2021, the company's CEO said he was fascinated by the business media's attention to Bitcoin and called it "another repository of wealth".