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U.S.-based multinational investment corporation BlackRock is pretty much in the bitcoin (BTC) market.<\/b><\/p>\n Major investment firm BlackRock has seemingly started to wet its feet in the BTC market.<\/p>\n Per recently filed regulatory filings, BlackRock held close to $360,457 in CME bitcoin futures contracts earlier this year.<\/p>\n While the aforementioned holdings only represent a minuscule 0.0014 percent of BlackRock\u2019s gargantuan Global Allocation Fund on reporting day, i.e. January 31, 2021, it could not be established whether the asset manager still holds any BTC futures contracts.<\/p>\n According to the filing, the original batch of futures contracts held by BlackRock expired on March 21, 2021.<\/p>\n It is worthy of note that earlier this year, BTCManager<\/i> reported that BlackRock \u2013 the world\u2019s largest multi-trillion-dollar asset manager \u2013 was considering investing in BTC futures through two of its funds.<\/p>\n The SEC filing at the time read in part:<\/p>\n \u201cEach Fund may use instruments referred to as derivatives, which are financial instruments that derive their value from one or more securities, commodities (such as gold or oil), currencies (including bitcoin), interest rates, credit events or indices (a measure of value or rates, such as the S&P 500 Index or the prime lending rate).\u201d<\/strong><\/p>\n<\/blockquote>\n BlackRock\u2019s entry into the cryptocurrency market space should hardly come as a surprise given the level of institutional participation the industry has witnessed since the COVID-19 induced global economic crash in March 2020.<\/p>\n Major Wall Street titans are already burning the midnight oil to develop crypto-assets-focused products for their big clients.<\/p>\n As previously reported by BTCManager<\/i>, U.S. banking giant JPMorgan is exploring adding bitcoin and other cryptocurrency clearinghouse options to its existing cryptocurrency services.<\/p>\n Similarly, on March 18, BTCManager<\/i> reported that another Wall Street heavyweight Morgan Stanley noted that institutional investors\u2019 increasing interest in cryptocurrencies could mean the threshold of adoption is slowly being reached.<\/p>\n<\/span>BlackRock Enters the Bitcoin Fray<\/strong><\/span><\/h2>\n
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<\/span>Institutional Interest in Bitcoin Continues to Grow<\/strong><\/span><\/h2>\n