Multi-billion dollar wealth manager Neuberger Berman increases exposure to Bitcoin, Ethereum the Motley Fool
The private investment company with $ 402 billion in assets under management (AUM), Neuberger Berman Group LLC, announced that the company is now actively invested in cryptocurrencies like Bitcoin. The multi-billion dollar asset manager disclosed this information on a Form 497 to conform to the EDGAR file system of the Securities and Exchange Commission.
Neuberger Bermans 497 shows exposure to Bitcoin and Ethereum
Neuberger Berman (NB) stated on a Form 497 filed with the Securities and Exchange Commission (SEC) that it now allows active engagement in crypto investments. The company is a well-known wealth manager with $ 402 billion AUM today and in 2003 Neuberger Berman merged with Lehman Brothers.
After the collapse of Lehman Brothers on September 15, 2008, Neuberger Berman was continued and separated from the parent company. The filing with the SEC shows that the company is now allowing exposure to cryptocurrencies and mentions the leading crypto assets Bitcoin (BTC) and Ethereum (ETH) in the filing.
“The Neuberger Berman Commodity Strategy Fund (the” Fund “) investment strategy will be an actively managed exposure to cryptocurrency investments and digital assets through (i) cryptocurrency derivatives such as bitcoin futures and ether futures and (ii) investments in bitcoin trusts and exchanges enable -traded funds to gain indirect exposure to Bitcoin. “
CIK Filing Discusses Crypto Volatility Fund, NB Blog Post Highlights Bitcoin Benefits
The declaration also follows Neuberger Berman’s submission of the Central Index Key (CIK) in the SEC’s network system, which discloses information about the “Neuberger Berman Hedged Cryptocurrency Volatility Fund LLC”.
The CIK filing was released on July 29th, and Neuberger Berman’s marketing team did not officially mention the crypto fund. The company has seen strong growth of 14% annually since 2010 when it tapped $ 250 billion in AUM in 2014.
In mid-March, the crypto community got a whiff of Neuberger Berman’s interest in Bitcoin when they published a blog post called “The Bitcoin Experiment”. The editorial, written by a number of Neuberger Berman wealth managers, highlights that “the rise of Bitcoin is sparking the imagination of investors around the world”.
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$ 402 Billion AUM, Asset Manager, Bitcoin (BTC), Bitcoin Exposure, BTC, Central Index Key, CIK Filing, Commodity Strategy Fund, Crypto, Crypto Assets, ETH, Ethereum (ETH), Exposure, Form 497- Filing, Investment Exposure, Neuberger Berman, SEC filing, The Bitcoin Experiment, Asset Manager
What do you think of Neuberger Berman adding Bitcoin and Ethereum exposure? Let us know what you think on this matter in the comments below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.
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