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BlackRock Takes First Step Into Crypto Exposure in Two Funds

  • Vehicles add leeway to trade cash-settled Bitcoin futures
  • Views on Bitcoin have evolved at world’s biggest asset manager
Bitcoin Mining Comes to the Arctic Circle
Photographer: Andrey Rudakov/Bloomberg
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BlackRock Inc. is adding Bitcoin futures as an eligible investment to two funds, the first time the money manager is offering clients exposure to cryptocurrency.

The world’s largest asset manager filed updated prospectuses for a pair of funds including cash-settled Bitcoin futures among assets they’re permitted to buy. The filings for BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc. appeared on the U.S. Securities and Exchange Commission website Wednesday. Derivatives using cash settlement do not require delivery of the underlying asset.