Two SEC filings from BlackRock Funds V, and BlackRock Global Allocation Fund Inc. suggest that BlackRock is set to make allocations to bitcoin futures via some of its funds. The filings with the Securities and Exchange Commission both ask for, “certain funds may engage in futures contracts based on bitcoin.”

  • BlackRock added that “the only bitcoin futures in which the Funds may invest are cash-settled bitcoin futures traded on commodity exchanges registered with the CFTC.”
  • The company, a trillion-dollar asset management giant, also recognizes the potential risks of investing in bitcoin futures, including illiquidity risk.
  • BlackRock also recognizes that bitcoin futures are not as heavily traded as other futures, given that it is a relatively new market.
  • The filings do not say that BlackRock funds are on the point of buying bitcoin futures but predict the company’s potential move.
  • Last month, BlackRock CEO Larry Fink said bitcoin is gaining legitimacy as an asset class but cautioned that they have to go through many markets to see if it will become “permanently real.”
  • BlackRock is also seeking to hire a blockchain lead, a vice president-level role. 

Bitcoin is currently declining. BTCUSD is down 8.31%