Neuberger Berman's $164M Commodities Fund Can Invest 5% in 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.

• “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