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Neuberger Berman Greenlights Indirect Crypto Investments for Commodities Fund

The $400 billion asset manager is expanding its investments strategy to include bitcoin and ether.

Updated May 9, 2023, 3:22 a.m. Published Aug 11, 2021, 2:29 p.m.

Joseph Amato, president and chief investment officer of Neuberger Berman Group LLC, speaks during a Bloomberg Television interview.

Asset management firm Neuberger Berman has given its $164 million commodities-focused mutual fund the go-ahead to invest indirectly in bitcoin and ether for the first time.

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“Neuberger Berman Commodity Strategy Fund” added crypto derivatives, bitcoin trusts and exchange-traded funds (ETFs) to list of permissible investment strategies, the $400 billion manager said in Wednesday regulatory filings.

The fund, which as a mutual fund would be widely available to investors, has been on a tear this year as commodity prices surged, according to a fact sheet. Its top holdings were gold, corn, heating oil and Brent crude at the end of June.

Asset Management Mutual Funds

Danny Nelson

Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.