BlackRock has joined the Bitcoin industry. According to the world’s largest wealth manager, two of its funds can now invest in cryptocurrency

BlackRock has authorized two of its funds to invest in bitcoin futures contracts. This emerges from documents submitted to the Securities and Exchange Commission on Wednesday. This step enables customers of the world’s largest asset manager to be involved in cryptocurrencies for the first time. The $ 8.7 trillion asset manager has announced that it will use Bitcoin derivatives as part of the strategic income opportunities of BlackRock and BlackRock Global Allocation Fund, among other things. The funds are only allowed to trade futures contracts cleared with Bitcoin, ie the holder receives a simple cash credit after the contract expires. These settlements do not require physical delivery of the underlying. In particular, BlackRock’s two funds will only trade Bitcoin futures contracts traded on exchanges registered with the Commodity Futures Trading Commission. Currently the only exchange registered for this is the CME.