BlockFi forms alliance with Neuberger Berman on new crypto investment products
Major cryptocurrency lending company BlockFi announced on the 25th that it plans to launch a series of crypto asset management products and strategies in alliance with Neuberger Berman Group LLC, an independent US asset management company.
Both companies will promote cryptocurrency asset management products, including Bitcoin ETFs and investment trusts, which will be available to customers via a new separate entity called BlockFi nb LLC.
With two Bitcoin futures ETFs going public last week in the US, Newberger Berman, and BlockFi seem to expect a larger expansion of Bitcoin ETFs which will create new customer demand in the future.
“We are witnessing a significant shift in investor sentiment towards digital assets, and we believe that digital assets should be considered in modern portfolios,” said Greg Collett, President of BlockFi | nb adding, “BlockFi | nb combines the crypto expertise of BlockFi with the institutional rigor of Neuberger Berman.”
Newberger Berman is an asset management company that provides stocks and bonds to institutional investors and high net worth individuals globally. It manages assets worth $437 billion.
In August, it was revealed that the company’s commodity fund “Commodity Strategy Fund” could invest up to 5% in US Bitcoin futures including CME and Bitcoin ETFs in Canada.
Recently, BlockFi submitted an application for a Bitcoin strategy ETF that will operate as an active fund. If not challenged by the SEC within 75 days, it is expected to be approved around December 23.
The post BlockFi forms alliance with Neuberger Berman on new crypto investment products appeared first on Our Bitcoin News.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow
