A filing by the U.S. Securities and Exchange Commission (SEC) shows that BlackRock’s Financial Management has increased the number of its Bitcoin futures contracts since the first quarter of 2021.
According to a filing with the SEC on September 28, the BlackRock Global Allocation Fund consists of 54 Bitcoin (BTC) futures contracts issued on the Chicago Mercantile Exchange as of July 31. The contracts expire on July 31, August 27, valued at $ 10.8 million. Raised $ 369,137.
Bitcoin futures returns are approximately 0.00138% on the BlackRock’s Global Allocation Fund, or 8.91 BTC at press time. The company has total assets of $ 9.5 trillion.
The investment comes after BlackRock CIO Rick Rieder said earlier this year that the company had “experimented a bit” in cryptocurrencies. However, CEO Larry Fink said in July that the company sees “very little investor demand” for the cryptocurrency.
Prior to pursuing Bitcoin futures, BlackRock was indirectly invested in crypto assets through its ownership of shares in business intelligence firm MicroStrategy. The investment firm also mentioned Bitcoin in two prospectuses with the SEC in January, hinting that it would look into the use of crypto derivatives.
Related: BlackRock’s ETFs hold $ 384 million in shares of Bitcoin mining companies
The news of BlackRock’s SEC filing comes as the price of Bitcoin has fallen more than 4% in the past 24 hours after a month of significant volatility. As data from Cointelegraph Markets Pro shows, the price of the crypto asset is $ 41,323 at the time of publication.