Two filings by BlackRock with the U.S. Securities and Exchange Commission (SEC) suggest the company may be planning to foray into Bitcoin.
The asset manager, which had $7.43 trillion in assets under management at the end of 2019, filed two Statements of Additional Information (SAI) on Wednesday for BlackRock Fund V and BlackRock Global Allocation Fund.
The document indicates that the asset manager is looking to enter the Bitcoin futures market, as it states that certain funds may engage in Bitcoin-based futures contracts. The only futures BlackRock intends to invest in are cash-settled Bitcoin futures traded on CFTC-registered commodity exchanges.
However, the company said in the filing that regulatory changes or actions could alter the nature of Bitcoin futures investments or limit the use of Bitcoin or the operation of the Bitcoin network.
While the filings do not confirm that BlackRock entities will buy bitcoin futures, these types of filings often precede the risk of entering the space and at least help pave the way for BlackRock’s funds to increase their exposure in the future .