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Neuberger Berman's $164M Commodities Fund Can Invest 5% in Bitcoin
The investment manager has tweaked its strategy and will now focus its crypto investments solely on bitcoin.
Neuberger Berman’s $164 million commodities fund can invest up to 5% of its assets in bitcoin futures and funds, the asset manager said Friday, following up the news from last week that it would consider cryptocurrencies.
STORY CONTINUES BELOW
- “Effective immediately,” Neuberger Berman Commodity Strategy Fund may invest in bitcoin futures and Canada’s bitcoin exchange-traded funds (ETF), a regulatory filing said.
- The fund got an initial go-ahead to chase bitcoin and ether exposure through derivative products on Aug. 11. Ether now appears to be off the table; Friday's bitcoin-only filing said it "replaces" the original.
- While certain ETFs are now on the fund's whitelist, it still cannot invest directly in digital assets – likely because of regulatory concerns.
- The new filing indicates that Neuberger Berman – a $400 billion asset manager – is eyeing crypto investments if not already participating in the market.
Read more: Neuberger Berman Greenlights Indirect Crypto Investments for Commodities Fund
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.
