The $400 billion asset manager is expanding its investments strategy to include bitcoin and ether.
Asset management firm Neuberger Berman has given its $164 million commodities-focused mutual fund the go-ahead to invest indirectly in bitcoin (BTC, +2.93%) and ether (ETH, +4.39%) for the first time.
“Neuberger Berman Commodity Strategy Fund” added crypto derivatives, bitcoin trusts and exchange-traded funds (ETFs) to list of permissible investment strategies, the $400 billion manager said in Wednesday regulatory filings.
The fund, which as a mutual fund would be widely available to investors, has been on a tear this year as commodity prices surged, according to a fact sheet. Its top holdings were gold, corn, heating oil and Brent crude at the end of June.