The mammoth asset manager with some $8 trillion in investments is seemingly planning to start investing in bitcoin futures.
“Certain Funds may engage in futures contracts based on bitcoin,” they say. “The only bitcoin futures in which the Funds may invest are cash-settled bitcoin futures traded on commodity exchanges registered with the CFTC.”
Futures expire monthly so this seems to be some short term trading, perhaps incorporating bitcoin as a hedge against fiat movement or other assets.
The restriction to futures however potentially makes such trading limited as they can’t hedge their own position with spot prices.
Making it somewhat unclear what exactly they plan to do, with the mammoth just stating that they may engage in bitcoin futures.
This clearly indicates they’re planning some sort of bitcoin strategy as last month they began looking for a crypto investment manager.
They’re thus moving towards incorporating bitcoin in their wider framework as the adoption of digital gold by institutional investors continues.