{"id":135302,"date":"2021-08-12T07:50:42","date_gmt":"2021-08-12T07:50:42","guid":{"rendered":"https:\/\/precoinnews.com\/?p=135302"},"modified":"2021-08-12T07:50:42","modified_gmt":"2021-08-12T07:50:42","slug":"new-yorks-leading-investment-manager-enters-cryptocurrency-market","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/new-yorks-leading-investment-manager-enters-cryptocurrency-market\/","title":{"rendered":"New York\u2019s Leading Investment Manager Enters Cryptocurrency Market"},"content":{"rendered":"<p>Global cryptocurrency adoption has been on the rise since the start of 2021. Major financial firms and leading banks announced direct and indirect investments in crypto-related products in the last seven months. Neuberger Berman, the New York-based investment management firm, became the latest financial firm to enter the crypto market.<\/p>\n<p>In an official filing with the US Securities and Exchange Commission (SEC), the company mentioned that Neuberger Berman Commodity Strategy Fund\u2019s investment strategy will permit actively managed exposure to cryptocurrency investments and digital assets through cryptocurrency derivatives including Bitcoin futures and Ethereum futures.<\/p>\n<p>The strategy also includes investments in bitcoin trusts and exchange-traded funds to gain indirect exposure to bitcoin. The latest announcement from Neuberger Berman came after the cryptocurrency market cap jumped by nearly $700 billion in the last three weeks.<\/p>\n<p>\u201cThe value of the Fund\u2019s investments in cryptocurrency is subject to fluctuations in the value of the digital currencies, which have been and may in the future be highly volatile. The value of cryptocurrencies is normally determined by the supply and demand for cryptocurrency in the global market for the trading of cryptocurrency, which consists primarily of transactions on electronic exchanges,\u201d the company mentioned.<\/p>\n<p>\u201cHowever, the price of crypto, including bitcoin and ether, could drop precipitously (including to zero) for a variety of reasons, including, but not limited to, regulatory changes, a crisis of confidence, flaw or operational issue in the bitcoin network or a change in user preference to competing cryptocurrencies,\u201d the asset manager added.<\/p>\n<h2>Institutional Interest in Cryptocurrency Assets<\/h2>\n<p>In December 2020, Ruffer Investment Company, the London-based investment management firm, allocated 2.5% funds to Bitcoin in an effort to reduce the company\u2019s gold exposure. In June 2021, Ruffer\u00a0made a profit of nearly $1 billion on its Bitcoin holdings. The latest jump in the cryptocurrency market cap has played a major role in the institutional adoption of Bitcoin and other digital currencies. In 2021, Tesla, MicroStrategy, Meitu, and Square expanded their crypto holdings significantly.<\/p>\n<p>Source: <a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/new-yorks-leading-investment-manager-enters-cryptocurrency-market\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global cryptocurrency adoption has been on the<\/p>\n","protected":false},"author":3,"featured_media":135301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New York\u2019s Leading Investment Manager Enters Cryptocurrency Market - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/new-yorks-leading-investment-manager-enters-cryptocurrency-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York\u2019s Leading Investment Manager Enters Cryptocurrency Market - 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