Breaking: $402 Billion Investment Firm Neuberger Berman Set to Offer BTC & ETH Futures Exposure
Neuberger Berman, a $402 billion asset management firm has filed with the US Securities and Exchange Commission to offer crypto futures exposure to one of its funds- Neuberger Berman Commodity Strategy Fund’s (the “Fund”). The said fund would offer exposure to Bitcoin (BTC) and Ether (ETH) futures along with Crypto ETFs to get indirect exposure to funds.
“Effective immediately, Neuberger Berman Commodity Strategy Fund’s (the “Fund”) investment strategy will permit actively managed exposure to cryptocurrency investments and digital assets through (i) cryptocurrency derivatives, such as bitcoin futures and ether futures, and (ii) investments in bitcoin trusts and exchange-traded funds to gain indirect exposure to bitcoin.”
The institutional giants have increased their focus towards the crypto derivatives market especially the Bitcoin Futures market, ever since SEC chief Gary Gensler hinted that a derivative ETF has more chances of approval than those funds that wish to hold physical bitcoin. Four institutional giant has filed for Bitcoin Strategy ETF since then, that offers exposure to the futures market. VanEck became the latest firm to file for the BTC Strategy ETF along with Invesco.
Bitcoin Institutional Demand at ATH
The US SEC chief Gary Gensler had made his stance very clear- tough regulatory policies to ensure investor protection. However, that hasn’t deterred or put a dent in growing institutional demand despite the recent crypto taxation fiasco in the US Infrastructure Bill.Source