Neuberger Berman Can Invest 5% in Bitcoin Through $164M Commodities Fund
Neuberger Berman Group LLC is a private, independent investment management company. Moreover, it is owned by employees. Furthermore, the company administers shares, fixed incomes, and private equity and hedge fund portfolios for worldwide institutional investors, consultants, and high-net-worth individuals.
Neuberger Berman provides customers investment solutions in both private and public asset classes. Also, styles, capitalizations, regions, and multi-asset class solutions, bringing them together.
On 11 August, the fund made the first move to provide futures for Bitcoin and Ethereum services. For now, Ethereum is not on the table. The application for Friday, which focused solely on Bitcoin, replaced the original as stated.
Despite the fact that some ETFs are now on the fund’s whitelist. It is unable to invest directly in digital assets due to regulatory concerns. The latest filing revealed that Neuberger Berman, a 400 billion dollar asset management, monitored crypto-investment carefully.
Bitcoin Future and Bitcoin Traded Funds of Canada (ETFs)
For the first time, asset management firm Neuberger Berman has allowed a $164 million commodities mutual fund to invest indirectly in bitcoin and ether.
The $400 billion asset manager stated regarding crypto derivatives, bitcoin trusts, and exchange-traded funds in regulatory documents released on Wednesday (ETFs).
The fund, widely accessible to investors as a mutual fund, was lagging behind this year. As commodities prices rose in the fact sheet. At the end of June, its main holdings were gold, maize, heating oil, and Brent crude.
On Friday, Neuberger Berman stated the firm might invest 5 percent of its $164 million in Bitcoin’s commodities funds and funds. It was noted in the filing with the authorities. That the Neuberger Berman Commodity Strategy Fund may invest in Bitcoin future and Bitcoin traded funds of Canada (ETFs).
