BlackRock, world's largest asset manager, is about to enter the bitcoin market as the firm has added cash-settled Bitcoin futures to two funds, Bloomberg has learned, citing regulatory filings.
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BlackRock reportedly filed updated prospectuses for two funds with the US Securities and Exchange Commission (SEC) with inclusion of cash-settled Bitcoin futures. In the filing, BlackRock admits bitcoin (EXANTE: Bitcoin) and bitcoin futures "have generally exhibited" significant price volatility relative to more traditional asset classes.
"Bitcoin futures may also experience significant price volatility as a result of the market fraud and manipulation noted above," the manager said.
However, the filing does not necessarily mean that BlackRock will invest in the largest cryptocurrency by market capitalization. The manager's spokesperson did not comment on the filing.
In December 2020, BlackRock posted a job vacancy according to which the company wants to hire a new Vice President, Blockchain Lead to create and implement strategies "designed to drive demand for the firm's offerings." A candidate must have at least 1 year of experience in articulating the technological foundations of blockchain technology and devising and articulating fundamental valuation methodologies for cryptocurrencies
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