Neuberger Berman’s $164 million commodities fund can invest up to 5% of its assets in bitcoin (BTC, +2.11%) futures and funds, the asset manager said Friday, following up the crypto play that it began last week.
- “Effective immediately,” Neuberger Berman Commodity Strategy Fund may invest in bitcoin futures and Canada’s bitcoin exchange traded funds (ETF), the regulatory filing said.
- The fund got an initial go-ahead to chase bitcoin and ether (ETH, +0.76%) exposure through derivative products on August 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 due to regulatory concerns.
- The new filing indicates that Neuberger Berman – a $400 billion asset manager – is seriously eyeing crypto investments if not already participating in its greenlit products.
Read more: Neuberger Berman Greenlights Indirect Crypto Investments for Commodities Fund