Neuberger Berman's $164M Commodities Fund Can Invest 5% in Bitcoin

The investment manager has tweaked its strategy and will now focus its crypto investments solely on bitcoin.

Aug 20, 2021 at 10:04 p.m. UTC
Updated Sep 14, 2021 at 1:43 p.m. UTC

Neuberger Berman’s $164 million commodities fund can invest up to 5% of its assets in bitcoin futures and funds, the asset manager said Friday, following up the news from last week that it would consider cryptocurrencies.

  • “Effective immediately,” Neuberger Berman Commodity Strategy Fund may invest in bitcoin futures and Canada’s bitcoin exchange-traded funds (ETF), a regulatory filing said.
  • The fund got an initial go-ahead to chase bitcoin and ether exposure through derivative products on Aug. 11. Ether now appears to be off the table; Friday's bitcoin-only filing said it "replaces" the original.
  • While certain ETFs are now on the fund's whitelist, it still cannot invest directly in digital assets – likely because of regulatory concerns.
  • The new filing indicates that Neuberger Berman – a $400 billion asset manager – is eyeing crypto investments if not already participating in the market.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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.

Trending

1
CoinDesk - Unknown
Tether Expands With Introduction of Dollar-Pegged Stablecoin on Polygon

Tether is now available on over 11 blockchain networks.

Tether is now available on over 11 blockchain networks.

CoinDesk - Unknown
2
CoinDesk - Unknown
The Quantum Revolution That Will Change Everything

Blockchains need to start migrating to new quantum-proof systems now otherwise they’ll be rendered worthless.

Blockchains need to start migrating to new quantum-proof systems now otherwise they’ll be rendered worthless.

CoinDesk - Unknown
3
CoinDesk - Unknown
New Terra Blockchain Launch Expected Saturday, With LUNA Airdrop to Follow

The move is part of a broader plan to help revive the Terra ecosystem and its related tokens.

The move is part of a broader plan to help revive the Terra ecosystem and its related tokens.

CoinDesk - Unknown
4
CoinDesk - Unknown
Ether Accounts for Almost Half of $520M Liquidations Amid Weak On-Chain Data

Traders of ether futures saw liquidations nearly double those of bitcoin in an unusual move.

Traders of ether futures saw liquidations nearly double those of bitcoin in an unusual move.

CoinDesk - Unknown