After Blackrock, the world’s largest asset management company, expressed its intention to contact Bitcoin, it has now revealed its initial investment in the encrypted asset. According to documents filed by the asset manager with the US Securities and Exchange Commission (SEC) on March 31, Blackstone holds 37 Bitcoin futures contracts worth $6.15 million through its Global Allocation Fund.
According to a report, these contracts expired on March 26 and their value has appreciated by approximately $360,458. At the same time, relying on a small amount of investment in Bitcoin futures, Blackrock submitted documents to the US Securities and Exchange Commission to prove that the leading asset management company has fulfilled its commitment to investing in encrypted assets.
A total of 37 contracts are held, accounting for approximately 0.03% of the company’s global distribution fund. Earlier this year, a Bitcoin.com news report quoted Blackrock’s chief information officer Rick Rieder as saying that his organization had “dabble” in Bitcoin. Through the documents submitted to the SEC, Blackrock has now formally confirmed its focus on crypto assets.
At the same time, through this filing, Blackrock, which has nearly $9 trillion in assets under management (AUM), has also increased its indirect exposure to crypto assets. Before filing with the US Securities and Exchange Commission, the Blackstone Group acquired more than one million Class A common shares of Microstrategy listed on NASDAQ, which was one of the first major companies to add Bitcoin to its balance sheet. .
In the past few months, Blackstone executive Russ Koesterich (Russ Koesterich) has been discussing the benefits of Bitcoin. claim: “Gold’s ability to withstand inflation is a bit exaggerated.” Despite the instability of crypto assets, Rieder, the chief investment officer of the Blackstone Group’s global fixed income, emphasized, “People are looking for securities.”
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