Neuberger Berman’s $164 Million Fund Can Invest 5% In Bitcoin
Neuberger Berman’s $164 million commodity fund can invest up to 5% of assets in Bitcoin (BTC) futures and funds, according to an August 20 announcement. The move comes after the company officially entered the crypto game last week.
“With immediate effect,” citing a regulatory filing filed by the Neuberger Berman Commodity Strategy Fund with the U.S. Securities and Exchange Commission (SEC), the fund can invest in Bitcoin futures and Bitcoin Canada exchange-traded funds (ETFs).
The fund got its start to track exposure to Bitcoin and Ether (ETH) through derivatives on Aug. Ether is also currently in the fund’s plans.
While several ETFs are currently on the fund’s whitelist, the fund has yet to be able to invest directly in digital assets – possibly due to regulatory concerns.
New filings indicate that Neuberger Berman — a $400 billion asset manager — is seriously eyeing crypto investments if not already in their portfolio.