Blackrock is experimenting with bitcoin futures after allowing two funds to add the popular cryptocurrency as an eligible investment.
The world’s largest asset manager is to offer clients exposure to the cryptocurrency as Wall Street responds to growing interest from investors.
However, the value of bitcoin fell by 10 per cent yesterday to $31,412.34, providing another example of the volatility in its trading that has so alarmed policymakers and leading bankers.
Just over three years ago Larry Fink, Blackrock’s founder, chairman and chief executive, described bitcoin as an “index of money laundering” and Jamie Dimon, chairman and chief executive of JP Morgan Chase, said that investing in the digital asset was “stupid”.
Last month Mr Fink, 68, appeared to have had a change of heart,