Neuberger Berman Expands Fund Strategy to Include Bitcoin and Ether Exposure

[ad_1]

Commodities-focused fund managed by Neuberger Berman, a multibillion-dollar asset manager, has opened the door to exposure to bitcoin and ether derivatives and investment vehicles, according to regulatory filing published Wednesday.

By deposit:

“The investment strategy of Neuberger Berman Commodity Strategy Funds (the Fund) will provide actively managed exposure to cryptocurrency investments and digital assets through (i) cryptocurrency derivatives, such as bitcoin futures contracts and ether futures, and (ii) investments in bitcoin trusts and exchange traded securities. funds to gain indirect exposure to bitcoin. “

These actions will take place through a subsidiary, according to the document.

The broader commodities fund itself has a broad reach, with investments in derivatives related to agriculture, animal husbandry, energy, and precious metals, among other areas. The CFTC first viewed bitcoin and other cryptocurrencies as a commodity in 2015, opening the door to US-based derivatives.

The new filing comes shortly after Neuberger Berman disclosed a “cryptocurrency volatility hedged fund” in a Form D SEC filing.

The so-called Neuberger Berman Hedged Cryptocurrency Volatility Fund LLC had, as of July 29, made no sales to investors, according to the filing. The file mentions a minimum investment of $ 5 million.

Previous comment on Bitcoin

Neuberger Berman’s blog featured an article on bitcoin this spring, titled “The Bitcoin Experiment,” which noted, “From our perspective, the Bitcoin phenomenon is worth watching.”

The message ended by noting that “[f]From our perspective, as a fundamentally focused asset manager, an investment in cryptocurrency should not be viewed as part of a standard asset allocation. “

“Instead, we see it instead as an option that pays off when expectations of an uncertain and inflationary future rise, and makes the supply dynamics finite and uncontrolled by humans of valuable cryptocurrencies.” , wrote the authors of the article.

Steve Eisman, chief executive of the company and author of The Big Short, said earlier this year that he is staying out of bitcoin. “I stay out of this. I don’t understand it,” he told Bloomberg in January.

Hat tip Unfolded

For more great stories like this, be sure to subscribe to The Block onTelegram.

[ad_2]