Bank guru BlackRock wants to buy Bitcoin

Bank guru BlackRock wants to buy Bitcoin – The $8.677 billion banking giant enters the fray

An incredible turnaround – The world’s largest investment fund may be going Bitcoin. To that end, BlackRock has submitted several documents to the SEC mentioning bets that will be made on cash-settled Bitcoin futures contracts.
BlackRock soon in the crypto-game?

On Wednesday, January 20, the Bitcoin Trader BlackRock investment fund, which heads the $6.84 trillion fund, filed several documents with the Securities and Exchange Commission (SEC).

Surprisingly, we find the word „Bitcoin“ 25 times in these documents. Could BalckRock be turning to the king of cryptomoney?

In any case, the documents do mention the possibility of investing in Bitcoin derivatives.

„Some funds may invest in Bitcoin-based futures contracts. »

The WEC rubs its hands

However, these papers specify the nature of the products that could be created:

„The only Bitcoin futures contracts in which the Funds may invest are cash settled Bitcoin futures contracts traded on commodity exchanges registered with the CFTC. »

While these documents do not completely guarantee BlackRock’s future position in Bitcoin-related activities, they do demonstrate a significant change in mentality. Indeed, as recently as 3 years ago, BlackRock’s CEO, Larry Fink, referred to Bitcoin as „a money laundering tool“.

Will the Chigaco Mercantile Exchange therefore see the giant BlackRock speculate on its futures contracts very soon?

BlackRock’s leader has since changed his mind about the king of cryptos. He even went so far as to declare that Bitcoin could evolve towards a more global market. With BlackRock aboard the Bitcoin rocket, it’s hard to imagine it could be otherwise.