US mutual funds’ crypto holdings doubled to over $1bn in Q1

BlackRock and MSIM are among 16 US fund managers dipping their toes into crypto investing

Banks holding cryptocurrency

Cryptocurrency investment is on the rise among US mutual funds, with holdings doubling in the first quarter of this year to top $1 billion, an analysis of regulatory filings has shown. BlackRock and Morgan Stanley Investment Management are among 16 mutual fund managers who have now dipped their toes into the alternative asset’s wild market.

Quarterly filings made to the US Securities and Exchange Commission show a mark-to-market value of $949 million in cryptocurrency-tracking products on funds

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