$ 400 billion commission manager Neuberger Berman yesils Bitcoin investments

New York-based asset management company Neuberger Berman, which controls more than $ 402 billion in private equity, has set aside up to 5% from its $ 164 million Commodity Strategy Fund to invest in bitcoin products such as bitcoin futures and Canadian bitcoin currency trading funds. 

In a regulatory filing with the U.S. Securities and Exchange Commission, the 82-year-old company said its decision would be “effective immediately” and that the Berman program Commodity Strategy Fund could invest $ 8.2 million from the commodity fund.bitcoins, products, directly or through a wholly owned subsidiary,” as with other contracts.

In the U.S., the Futures program will be conducted on CFTC-regulated exchanges, such as the Chicago Mercantile Exchange. The option to trade in Canadian bitcoin ETFs reflects the lack of U.S. ETFs.

​​

Friday’s filing replaced the filing previously distributed to shareholders on August 11. Friday Yesil was also given the green light to invest in Ethereum derivatives, but Friday’s change is a departure from all Ethereum mentions in relation to bitcoin alone. 

Neuberger joins a large number of senior asset management executives dealing with crypto. In April this year, Morgan Stanley announced that some of its funds would be able to place up to 25% of its total assets in bitcoin futures and a bitcoin Trust. Similarly, Goldman Sachs has announced plans to trade Ethereum futures in October in addition to the bitcoin futures it already trades. 

Small asset management organizations already have a significant amount of cryptography. The Goldman Sachs report highlights that 15% of the 150 family offices surveyed worldwide already use crypto. For U.S. respondents, the figure is 25%. 

While bitcoin’s historical growth may have cooled in recent months, the market is slowly recovering and attracting some of the new private and corporate interests.

Join the Discussion

  • BrokerEUR/USD
    OANDA 1.3pips (variable) margin: 3.33%
    CMC Markets 0.7pips. (variable) margin: 3.33%
  • Back to top