BlockFi, a cryptocurrency lender, has teamed up with private investment manager Neuberger Berman to create new crypto asset management solutions.
As per the revelation, BlockFi nb will act as a separate entity to house the new products. According to BlockFi nb, there are higher chances for exchange-traded funds (ETFs) to be among the newly developed products.
“We anticipate that this collaboration will help us develop new solutions for existing problems, allowing investors to get cost-effective and convenient access to the performance of digital assets through their brokerage accounts,” says Greg Collett, president of the firm.
Tweaking the strategy of its $164 million commodities fund, Neuberger Berman – a $400 billion asset manager – recently permitted up to 5% of its assets to be invested in bitcoin futures and funds.
Last month, the CEO of decentralized bitcoin exchange BlockFi wanted the US Securities and Exchange Commission to weigh in on crypto lending.
“We’re not going to put crypto lending in a box based on what New Jersey or Texas does,” Zac Prince added.
The CEO of the blockchain payment processing company, Zac Prince, said the lending sector will ultimately need a word from the federal government after his interest-bearing crypto account was investigated in at least five states and his firm’s fate – repeatedly postponed – is still undecided.