Sure enough, on March 31, it became known that BlackRock, the world’s largest asset manager, bought Bitcoin futures contracts. Specifically, worth $ 6.15 million. There is increasing access of traditional investors to the crypto sector.
As new filings from the United States Securities and Exchange Commission (SEC) show, BlackRock had $ 6.15 million in CME Bitcoin futures earlier this year with an appreciation of $ 360,458.
By the way, the filings match documents filed with the SEC in January. Which showed that BlackRock was considering cash settled Bitcoin futures as potential investments for two of its funds.
As a curious fact, the crypto influencer Anthony Pompliano expressed on Twitter:
“Everyone is going to freak out because BlackRock had $ 360,000 in the CME Bitcoin futures markets. But, I’m freaking out because BlackRock has over $ 8 billion in AUM. And they can’t even have the conviction to invest $ 1 million? “
Everyone is going to freak out because BlackRock had $ 360,000 in the CME bitcoin futures markets earlier this year, but I’m freaking out because BlackRock has more than $ 8 trillion in AUM and they couldn’t even have the conviction to invest $ 1 million ?! ?
– Pomp 🌪 (@APompliano) March 31, 2021
Confirmed: BlackRock has already traded BTC
Specifically, a report from the United States Securities and Exchange Commission shows that BlackRock’s Bitcoin futures contracts have appreciated significantly this year.
Consequently, according to the report published by the SEC, BlackRock had 37 Bitcoin futures contracts. Issued through the Chicago Mercantile Exchange that expired on March 26.
By the way, BlackRock has been discussing the benefits of Bitcoin a lot for the past few months.
Last month, Rick Rieder, the firm’s chief investment officer, in an interview with CNBC, confirmed that BlackRock had started to dabble in Bitcoin a bit. And that people are looking for stores of value.
“Today, the volatility is extraordinary, but I heard, people are looking for stores of value.”
Similarly, Larry Fink told a panel that the leading cryptocurrency is gaining legitimacy as an asset class. However, he believes they have to go through various markets to see if it will be real permanently.
BlackRock and their views on Bitcoin
It is worth noting that BlackRock is a company that has evolved in its thinking regarding Bitcoin. Well, by 2017, they branded Bitcoin as part of a speculative platform.
Additionally, in 2018, the company announced a research team to explore how Bitcoin could be taken advantage of within the market.
But, starting in 2020, BlackRock began to strongly support Bitcoin. Certainly, speculation about BlackRock’s adherence to Bitcoin investments emerged in December 2020. When the news came out that the manager was looking for a specialist Blockchain professional.
By way of closing, with this SEC filing, BlackRock has now officially confirmed its turn to Bitcoin. What do you think about BlackRock’s investment in BTC futures? Let us know in the comment box.
I say goodbye with this phrase from Drew Houston: «Don’t worry about failing. You only have to be right once to be successful.
Did you like the content? Share it