Bitcoin news Multi-Billion Dollar Wealth Manager Neuberger Berman Adds Exposure to Bitcoin, Ethereum

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The private investment management firm with $402 billion in assets under management (AUM), Neuberger Berman Group LLC, has revealed the company now has active exposure to cryptocurrencies like bitcoin. The multi-billion-dollar asset manager disclosed this information in a Form 497 in order to comply with the Securities and Exchange Commission’s EDGAR filing system.

Bitcoin news Neuberger Berman’s 497 Shows Bitcoin and Ethereum Exposure

Neuberger Berman (NB) has detailed in a Form 497 filing with the Securities and Exchange Commission (SEC) that it is now permitting active exposure to crypto investments. The company is a well known wealth manager with $402 billion AUM today and in 2003 Neuberger Berman merged with Lehman Brothers.

Following the collapse of Lehman Brothers on September 15, 2008, Neuberger Berman continued to operate and spinned itself away from the parent company. According to the SEC filing, the firm allows exposure to cryptocurrency now. The filing mentions the top crypto assets bitcoin (BTC), and ethereum(ETH).

“Neuberger Berman Commodity Strategis Fund’s (the “Fund”) investment strategy will allow actively managed exposure to cryptocurrency assets and investments through (i) cryptocurrency derivatives such as bitcoin futures or ether futures, (ii) bitcoin trusts and exchange traded funds to gain indirect exposure bitcoin .”

Bitcoin news CIK File Discloses Crypto Volatility Fund. NB Blog Post Highlights The Benefits of Bitcoin

The statement follows Neuberger Berman’s Central Index Key(CIK) on the SEC’s network system, which discloses information about the “Neuberger Berman Hedge Cryptocurrency Volatility Fond LLC .”

The CIK filing was published on July 29 and there’s been no official mention of the crypto fund from Neuberger Berman’s marketing team. The company has been experiencing strong growth since 2010 seeing 14% per year when it tapped $250 billion AUM in 2014.

In mid-March, Neuberger Berman was able to catch a glimpse of the crypto community’s interest in bitcoin by publishing a blog post titled “The Bitcoin Experiment.” It highlights how the “ascent” of bitcoin has captured the imagination of global investors .”

What do you think about Neuberger Berman adding bitcoin and ethereum exposure? Please comment below to let us know your thoughts on this topic.

This story contains tags

$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, wealth manager

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