BlockFi, a cryptocurrency lender, has teamed up with private investment firm Neuberger Berman to create new crypto asset management products.
According to a Monday announcement, the new products will be housed in a separate entity called BlockFi nb.
BlockFi nb has stated that exchange-traded funds (ETFs) will most likely be among the products it develops.
“We believe that this combination will help us to improve on current market products so that we can provide investors with cost-effective and convenient access to the performance of digital assets from their brokerage accounts,” said Greg Collett, president of the new entity.
Neuberger Berman, a $400 billion asset manager, recently changed the strategy of its $164 million commodities fund, allowing up to 5% of its assets to be invested in bitcoin futures and funds.