Neuberger Berman's $164 million Commodities Fund Has the Option to Invest 5% in Bitcoin

Neuberger Berman's $164 million commodities fund may invest up to 5% of its assets in bitcoin futures and funds, the asset management said on Friday, following up on its crypto bet made last week.

According to the regulatory filing, Neuberger Berman Commodity Strategy Fund may invest in bitcoin futures and Canada's bitcoin exchange traded funds (ETF) "effective immediately."

• On August 11, the fund received preliminary approval to pursue bitcoin and ether exposure via derivatives. Ether seems to have been ruled out; the bitcoin-only petition on Friday said that it “replaces” the original.

• Despite the fact that some ETFs have been added to the fund's whitelist, it is still unable to invest directly in digital assets owing to regulatory issues.

• According to the latest filing, Neuberger Berman, a $400 billion asset management, is seriously considering crypto investments if it isn't already doing so via its greenlit products.

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