Bitcoin’s institutional adoption has grown by leaps and bounds, there’s no denying Bitcoin now.

World’s Largest Asset Manager BlackRock Is Trading Bitcoin Futures

According to Securities and Exchange Commission filings submitted Wednesday, the BlackRock Global Allocation Fund held 37 futures contracts, which expired on March 26, from the Chicago Mercantile Exchange (CME) worth $6.15 million. The contracts had appreciated by $360,458.

The filings match prospectus documents filed with the SEC in January, which showed that BlackRock was eyeing cash-settled bitcoin futures as potential investments for two of its funds, BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund.

Though the investment could be seen as a trial run for the investment giant, which had $8.67 trillion in assets under management at the end of the fourth quarter of 2020, it is yet another testament to bitcoin’s widespread institutional adoption.

Full article here: https://www.forbes.com/sites/ninabambysheva/2021/04/01/worlds-largest-asset-manager-blackrock-is-now-trading-bitcoin-futures/?sh=7d7d921336ce