New York-based funding administration agency Neuberger Berman has filed for a commodity-focused fund to have the ability to acquire oblique publicity to crypto investments. 

In a submitting with the USA Securities and Alternate Fee (SEC) at this time, the funding agency said its Commodity Technique Fund would enable traders to have oblique publicity to cryptocurrencies and digital belongings by Bitcoin (BTC) and Ether (ETH) futures, in addition to Bitcoin trusts and exchange-traded funds, or ETFs. In line with the submitting, the fund plans to achieve publicity to crypto by a subsidiary.

Neuberger Berman reported the fund had greater than $164 million in belongings below administration as of July 31, roughly zero.04% of the agency’s whole AUM, or $402 billion. The corporate published a weblog in March from senior figures on the agency saying “An funding in cryptocurrency shouldn’t be thought-about a part of a regular asset allocation.”

“We’d fairly view [Bitcoin] as an choice that pays off when expectations for an unsure, inflationary future improve, and make the finite, non-human managed provide dynamics of cryptocurrencies worthwhile,” mentioned the agency. “These with publicity ought to perceive the speculative nature of their funding and — potential windfalls however — be ready to half with nearly all their dedicated capital.”

Associated: GoldenTree Asset Management is reportedly investing in Bitcoin

The Neuberger Berman submitting comes following feedback from SEC Chair Gary Gensler, who just lately hinted that he could be extra open to accepting exchange-traded funds based mostly on crypto futures fairly than by direct publicity. Asset supervisor VanEck and funding agency Invesco have each announced plans to launch ETFs with oblique publicity to crypto by Bitcoin futures and different funding automobiles.