A submitting from the USA Securities and Exchange Commission, or SEC, indicates that BlackRock Financial Management has expanded the wide variety of its Bitcoin futures contracts because Q1 2021.

According to a Tuesday submitting with the SEC, the BlackRock Global Allocation Fund protected fifty four Bitcoin (BTC) futures contracts issued via the Chicago Mercantile Exchange as of July 31. The contracts, which expired on Aug. 27, had been worth $10.eight million, appreciating by $369,137.

The profits from the Bitcoin futures constitute kind of 0.00138% of the BlackRock Global Allocation Fund, or eight.ninety one BTC on the time of publication. The employer holds $9.five trillion in general belongings below management.

The funding comes following BlackRock leader intelligence officer Rick Rieder announcing in advance this 12 months that the corporation had “began out to dabble a bit” in crypto. However, CEO Larry Fink stated in July that the employer changed into seeing “little or no in phrases of investor demand” for cryptocurrencies.

Before pursuing Bitcoin futures, BlackRock had oblique publicity to the crypto asset via its possession stake in enterprise intelligence corporation MicroStrategy The funding employer additionally cited Bitcoin in prospectus filings with the SEC in January, hinting that it’d be exploring the usage of crypto derivatives.

Related: BlackRock ETFs hold $384 million of stocks in Bitcoin mining firms

News of the BlackRock SEC submitting comes because the charge of Bitcoin has dropped extra than 4% withinside the remaining 24 hours following a month of massive volatility. As statistics from Cointelegraph Markets Pro indicates, the charge of the crypto asset is $41,323 on the time of publication.