BlackRock substantially increased the number of Bitcoin futures contracts in which it participates, but they represent a minimal proportion of equity
BlackRock and Bitcoin futures
According to the document filed with the SEC, the company that manages more than US $ 9.5 billion in assets has a total of 54 futures contracts of Bitcoin (BTC) issued through the Chicago Mercantile Exchange (CME), at least until last 31 of July. Between the contracts that expired on August 27, around US $ 10.8 million were moved, capitalizing profits of US $ 369,000. According to details from BlackRock, the capitalized earnings with the Bitcoin futures contracts represent approximately 0, 00138% of the global allocation fund managed by the company, estimated at about 8.91 BTC at the currently managed exchange rate.
BlackRock revealed that it handles a large number of Bitcoin futures contractsRegarding BlackRock’s interest in products associated with cryptocurrencies, the director of the company’s intelligence area, Rick Rieder, indicated at the time that they were venturing a bit into this sector, although the CEO, Larry Fink, recently assured that they did not perceive as much demand among investors as they expected.
The Bitcoin market
While BlackRock’s reading of the capitalized results is mainly focused on the evolution of Bitcoin futures traded at Through CME, the company may be leaving out other marketing modalities that are much more common within the cryptocurrency market. Beyond the futures market operated by exchanges, the overall volumes recorded by the main exchanges reveal that in the last 24 hours some US $ 30,308 million were traded only in operations with Bitcoin , which reflects a great interest on the part of investors and enthusiasts of the digital currency.
There are currently many people interested in the Bitcoin worldFor their part, companies like MicroStrategy are taking the idea of Bitcoin very seriously as an investment asset that will be in high demand in the future. In this regard, the CEO of the company, Michael Saylor, constantly defends the innovative nature of its technological proposal, qualifying it as the safest investment within the ecosystem of digital currencies. However, although many analysts and enthusiasts defend the good prospects for Bitcoin in the medium-long term, the price of the digital currency has been shaken in recent weeks by the announcements made by the Chinese government and the current political instability in the United States. . At the time of publication, the digital currency is trading at about US $ 41,226, capitalizing losses of 1.67% in the last 24 hours.
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