With more than $10 trillion under management, BlackRock has launched a private Bitcoin fund for US institutional clients.
The world’s largest asset manager BlackRock announced on its official website on August 11 that it has launched a Bitcoin fund for its institutional clients.
BlackRock made the following statements in its statement:
Despite the sharp decline in the cryptocurrency market, we are seeing a lot of interest from some of our institutional clients on how they can leverage and cost-effectively access digital assets.
“Bitcoin is the biggest cryptocurrency and our client is the primary focus right now,” BlackRock wrote in a blog post about Bitcoin. Bitcoin owns close to 50% of the cryptocurrency market, excluding stablecoins.” made statements.
Last week, BlackRock announced that it has partnered with Coinbase Prime to enable its institutional customers to access cryptocurrencies. With this deal, customers will be able to offer Coinbase’s Prime platform to institutional clients of BlackRock’s electronic venture capital firm Aladdin. Cryptocurrency trading, custody and reporting will provide the service.