The US Securities and Exchange Commission (SEC) app shows that BlackRock Financial Management has increased the number of Bitcoin futures contracts since the first quarter of 2021.

BlackRock’s Global Distribution Fund included 54 Bitcoin (BTC) futures contracts that were issued through the Chicago Mercantile Exchange on July 31, according to filing Tuesday with the Securities and Exchange Commission. The contracts, which expired on August 27, were valued at $ 10.8 million and valued at $ 369,137.

The return on Bitcoin futures is around 0.00138% of BlackRock’s global distribution fund, or 8.91 BTC at time of publication. The company’s total assets are $ 9.5 trillion.

The investment came after BlackRock’s head of intelligence, Rick Reeder, said earlier this year that the company was “doing a little bit” of cryptocurrency. However, in July, CEO Larry Fink said the company “sees very little in terms of investor demand” for cryptocurrencies.

Before BlackRock was keen to dive into bitcoin futures, BlackRock was indirectly linked to the crypto asset through its stake in business intelligence firm MicroStrategy.

Related Topics: BlackRock ETF Holds $ 384M in Bitcoin Mining Stock

The news of the BlackRock SEC deposit comes as the price of bitcoin has dropped more than 4% in the last 24 hours after a month of tremendous volatility. As shown by data from Cointelegraph Markets Pro, at the time of publication, the crypto asset is valued at $ 41,323.

Source: CoinTelegraph

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