According to an SEC filing, Neuberger Berman is the latest investment heavyweight to join the crypto conga line.  In an SEC filing today, Neuberger Berman stated the following for its Commodity Strategy Fund: "Toward the end of the reporting period, the Fund also began investing in bitcoin futures traded on futures exchanges registered with the […] The post Another Major Investment Firm Invests In Crypto appeared first on CryptosRus.

Another Major Investment Firm Invests In Crypto

According to an SEC filing, Neuberger Berman is the latest investment heavyweight to join the crypto conga line. 

As first reported by MacroScope, Neuberger Berman filed with the SEC today regarding investing in cryptocurrencies through their Neuberger Berman Alternative Funds. The investment firm currently has over 400 million (USD) in assets under management.

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  • “Effective immediately, Neuberger Berman Commodity Strategy Fund’s (the “Fund”) investment strategy will permit actively managed exposure to cryptocurrency investments and digital assets through (i) cryptocurrency derivatives, such as bitcoin futures and ether futures, and (ii) investments in bitcoin trusts and exchange-traded funds to gain indirect exposure to bitcoin,” the investment firm said via their filing. 
  • It’s unclear when exactly the investment(s) took place. The “Supplement to the Summary Prospectus, Prospectus and Statement of Additional Information” is dated February 28th, 2021. Whereas, the date of the supplement at the end of the document states it’s dated for August 11th, 2021.
  • Though, the fund did say that, “Toward the end of the reporting period, the Fund also began investing in bitcoin futures traded on futures exchanges registered with the Commodity Futures Trading Commission.”
  • The SEC filing leaves room for the fund investing in Ether through CFTC approved funds with exposure to Ethereum. Ethereum ETFs are not approved in the U.S. yet — and facing a lengthy approval process most likely. 
  • Bitcoin Futures ETFs are now available in the U.S. Though, a spot Bitcoin ETF has yet to be approved, despite countries like Canada and Australia already approving a physically-backed Bitcoin ETF.
  • Neuberger Berman previously announced a partnership with crypto lender BlockFi back in October. 

 

 

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