BlackRock, the world’s largest asset manager with nearly $10 trillion in assets under management, cryptocurrency prefers to use the Bitcoin index of crypto exchange Kraken’s CF Benchmarks for its service.
Managing $10 Trillion, Blackrock Is No Stranger To The Cryptocurrency World
Last month, BlackRock Bitcoin It had teamed up with another crypto exchange, Coinbase, to make it available directly to its institutional customers.
Shortly after, BlackRock launched a new BTC private trust for US-based institutional investors.
CF Benchmarks is owned and operated by Payward Inc., the crypto exchange Kraken. It is part of the Crypto Facilities group of companies, which is a member of the company. Kraken acquired Crypto Facilities in 2019 in an undisclosed deal worth at least $100 million.
Sui Chung, CEO of CF Benchmarks, pointed out that the interest shown by institutions in the last few months has increased compared to six months ago:
“The understanding of digital assets is much higher than before. People no longer equate BTC and ETH and are more aware of the fundamentals of assets.”
Chung said the deal with BlackRock has been in preparation since 2021.
The company is among the world’s largest asset managers.
*Not investment advice.
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