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Bitcoin News January 5, 2023

Asset Management Giant BlackRock Adds Bitcoin to Its Global Allocation Fund Portfolio

Asset management giant BlackRock has added bitcoin to the portfolio of its Blackrock Global Allocation Fund.

BlackRock said in a filing that the fund may invest in cash-settled bitcoin futures traded on commodity exchanges registered with the Commodity Futures Trading Commission.

According to the report, this is one of the first general funds to add Bitcoin to its portfolio, showing that Bitcoin has become a sufficiently mature diversified asset that it is a valuable investment even in very conservative portfolios. .

It is reported that BlackRock Global Allocation Fund invests in stocks, bonds and short-term securities of corporate and government issuers on a global scale, without prescribed restrictions. “Under normal market conditions, the fund invests at least 70% of its total assets in securities of corporate and government issuers,” BlackRock said. In addition, the fund may invest in equity securities of small and emerging growth companies .

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