World Largest Asset Manager BlackRock Reveals $360K Bitcoin Gains Through CME Futures

A recent filing with the US Securities and Exchange Commission indicated that the world’s largest asset manager has indeed “started to dabble” with the primary cryptocurrency by purchasing a portion of CME’s March 2021 BTC futures that expired on March 26th.  

  • The Wall Street behemoth has expressed a pro-cryptocurrency approach for the past several months after its CIO, Rick Rieder said that BTC is here to stay and could even replace gold. 
  • Later, Rieder took it a step further by claiming that BlackRock has already “started to dabble a bit into it.” However, he failed to specify the precise nature of their bitcoin-related endeavor. 
  • That became known yesterday after the SEC released a filing reading that the BlackRock Global Allocation fund held 37 units of CME’s March 2021 BTC futures, which expired on March 26th.  
  • The filing further revealed that the notional amount of the contracts was roughly $6.1 million on the date of expiration, which suggests that their value has appreciated by just over $360,000. 
  • It’s worth noting that the SEC filings only provide financial data until January 31st, meaning that the documents don’t reveal if BlackRock still holds any CME Bitcoin futures contracts. 
  • Prior to the information that emerged now, BlackRock had filed two Prospectus documents with the SEC on behalf of the BlackRock Funds V and BlackRock Global Allocation Fund Inc. Both papers suggested that the organization could engage in trading cash-settled BTC futures contracts. 
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 98,268.33 0.24%
Ethereum (ETH) $ 3,426.71 2.83%
Tether (USDT) $ 1.00 0.08%
Solana (SOL) $ 258.70 1.11%
BNB (BNB) $ 660.59 3.14%
XRP (XRP) $ 1.47 6.27%
Dogecoin (DOGE) $ 0.444494 9.39%
USDC (USDC) $ 1.00 0.03%
Cardano (ADA) $ 1.07 3.41%
Lido Staked Ether (STETH) $ 3,425.81 2.74%