BlackRock Has Begun Trading Bitcoin Futures
BlackRock held $6.5 million in CME bitcoin futures earlier this year with an appreciation of $360,000, new SEC filings show.
Investments giant BlackRock has indeed "started to dabble" in the bitcoin market, according to regulatory filings published Wednesday.
A source familiar with the matter told CoinDesk the asset manager held $6.5 million in CME bitcoin futures contracts earlier this year. Those contracts had appreciated $360,457 on reporting day, according to documents reviewed by CoinDesk.
The holdings represented 0.03% of BlackRock’s massive Global Allocation Fund on reporting day Jan. 31 – “very small,” the source said. (The gains represent just 0.0014%.) BlackRock’s original 37 contracts expired on March 26.
BlackRock gave two of its funds the go-ahead to trade bitcoin futures in January.
BlackRock declined to comment beyond the filings.
UPDATE (March 31, 20:37 UTC): Adds fresh information about the total amount of bitcoin futures held by BlackRock.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.