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BlackRock, the world’s largest asset manager, is deepening its crypto footprint.
“Prospectus documents filed with the U.S. Securities and Exchange Commission Wednesday indicate that BlackRock Global Allocation Fund Inc. and BlackRock Funds V are at least eyeing bitcoin. They both include “bitcoin” on their list of derivative products cleared for use,” reports Danny Nelson for
Bitcoin futures debuted in the U.S. in late 2017.
Derivatives help increase liquidity and improve markets for an asset category by allowing investors to bet on ups and downs of an asset, even allowing individuals to adopt market-neutral strategies. They are also a key component in the creation of many futures-backed ETFs utilized by a range of investors.
VanEck Files Again With SEC to Introduce Bitcoin ETF
The SEC has rejected several investment firmsâ efforts during the past few years to start a true bitcoin ETF.
Author:
Is a bitcoin exchange-traded fund (ETF) finally coming?
Many investors/speculators hope so, and so does money manager VanEck Associates, which filed with the Securities and Exchange Commission Wednesday to introduce The VanEck Bitcoin Trust.
The SEC has rejected several investment firms’ efforts during the past few years to start a true bitcoin ETF, because it views the vehicle as very speculative. There is the Grayscale Bitcoin Trust (
GBTC) - Get Report, but it trades 24% above its net asset value.
IBM Board Appoints CEO Arvind Krishna As Chairman, Replacing Rometty
The move comes after Krishna, a longtime IBM executive and a principal architect of the Red Hat acquisition, replaced Ginni Rometty as CEO in April, making him the Armonk, N.Y.-based company’s 10th chief executive. By Dylan Martin December 16, 2020, 05:29 PM EST
IBM’s board of directors appointed CEO Arvind Krishna as its chairman, taking over from executive chairman and former chief executive Ginni Rometty, who is retiring at the end of the year.
The move, which was disclosed with the U.S. Securities and Exchange Commission Wednesday, comes after Krishna, a longtime IBM executive, replaced Rometty as CEO in April, making him the Armonk, N.Y.-based company’s 10th chief executive. Krishna, who first joined IBM in 1990, had already been serving on the board as a director since his CEO appointment.