BlackRock SEC Filings Show BTC Derivatives

Written By Guest User
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Full article by Turner Wright found here.

Key Points:

  • A filing from the U.S. Securities and Exchange Commission (SEC) indicate that BlackRock Financial Management has increased its Bitcoin futures contract holdings since Q1 2021.

  • The September 28th filing with the SEC shows that the BlackRock Global Allocation Fund included 54 Bitcoin futures contracts as of July 31st. The contracts expired on August 27th, and were worth $10.8 million.

  • The gains from the BTC futures contracts represent about 0.00138% of the BlackRock Global Allocation Fund, equivalent to about 8.91 BTC. The company holds $9.5 trillion in total assets under management.

  • The filing comes after BlackRock CIO Rick Rieder stated earlier this year that the firm had begun to “dabble a bit” in crypto. Before entering the Bitcoin futures market, BlackRock already had indirect exposure to the crypto asset through its ownership stake in MicroStrategy, the famed business intelligence firm lead by Michael Saylor that continues to mass accumulate Bitcoin.

  • BlackRock ETFs also reportedly holds over $384 million of shares in Bitcoin mining companies.

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