US Securities and Exchange Commission (SEC) records show that BlackRock Financial Management has increased the number of Bitcoin futures contracts since the first quarter of 2021.
BlackRock’s Global Distribution Fund included 54 Bitcoin (BTC) futures contracts issued through the Chicago Mercantile Exchange as of July 31, according to filing Tuesday with the Securities and Exchange Commission. The contracts, which expired on August 27, were valued at $ 10.8 million. , an increase of $ 369,137.
The return on bitcoin futures is approximately 0.00138% of BlackRock’s global distribution fund, or 8.91 BTC at the time of publication. The total assets under the management of the company are $ 9.5 trillion.
The investment came after BlackRock’s boss Rick Reader announced earlier this year that the company had “started making some” of cryptocurrency. In July, however, CEO Larry Fink said the company “sees very little in terms of investor demand” for cryptocurrencies.
Prior to pursuing bitcoin futures, BlackRock was indirectly exposed to cryptocurrencies through its stake in business intelligence firm MicroStrategy. The investment firm also mentioned Bitcoin in a prospectus sent to the SEC in January, suggesting that it would investigate the use of cryptocurrency derivatives.
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The news about the BlackRock SEC registration is that the price of bitcoin has fallen more than 4% in the last 24 hours after a month of enormous volatility. As shown by data from Cointelegraph Markets Pro, at the time of publication, the crypto asset is valued at $ 41,323.