Neuberger Berman To Offer Bitcoin Futures Through $161 Million Commodity Fund

Neuberger Berman To Offer Bitcoin Futures To Its $161 Million Commodity Strategy Fund, According To A Filing With The Securities And Exchange Commission.

Private investment firm Neuberger Berman is adding Bitcoin futures to its $161 million Commodity Strategy fund, according to a filing with the Securities and Exchange Commission.

Notably, Neuberger Berman will not be investing in Bitcoin directly, but rather will offer clients exposure through Bitcoin Futures.

According to Citywire, a spokesperson for the firm said it is using bitcoin price exposure strategically as a hedge against inflation, as Bitcoin “is scarce by definition.”

On Neuberger Berman’s Bitcoin strategy, the spokesperson continued, “In the interim, however, they believe that there will be strong price trends, including relative price trends, and as such believe exposure to a diversified, albeit modest, portfolio of such crypto assets offers another source of potential return to the portfolio.”

This follows a number of investment firms who have recently sought Bitcoin price exposure through futures rather than the underlying asset, including most recently VanEck and Invesco, who both filed for Bitcoin Futures ETFs with the SEC under the 40 Act, a move that follows recent recommendations made by SEC Chairman Gary Gensler last week.

“I look forward to the staff’s review of such filings, particularly if those are limited to these CME-traded bitcoin futures,” Gensler said.

BlackRock Goldman Sachs, Grayscale Bitcoin Trust, and Viridi Funds all recently filed for or began to offer investment vehicles tied to Bitcoin ETFs.