$402 Billion Asset Manager Giant Files to Start Offering Bitcoin and Ethereum Exposure Immediately
Neuberger Berman will be offering indirect exposure to the top two crypto-assets through futures and funds invested in BTC and ETH in line with SEC Chairman Gary Gensler’s openness to Bitcoin futures-backed ETFs.
Neuberger Berman, the asset manager with over $400 billion in assets under its management, filed with the US Securities and Exchange Commission (SEC) Wednesday to start offering exposure to the top two crypto-assets.
Much like the latest Bitcoin-related ETFs filed with the SEC, such as VanEck and Invesco, Neuberger Berman will also offer indirect exposure through futures instead of investing directly in Bitcoin and Ether after SEC Chairman Gary Gensler indicated that he is more open to futures backed ETFs that offer more protection. The SEC filing reads,
“Effective immediately, Neuberger Berman Commodity Strategy Fund’s (the “Fund”) investment strategy will permit actively managed exposure to cryptocurrency investments and digital ”assets through (i) cryptocurrency derivatives, such as bitcoin futures and ether futures, and (ii) investments in bitcoin trusts and exchange-traded funds to gain indirect exposure to bitcoin.”
The fund giant will be making the investment through its subsidiary.