The world’s largest asset manager, BlackRock Inc., offers institutional clients access to a Spot Bitcoin Trust. With this, the asset manager is now proactively positioning itself as a provider of crypto products.
The most important information at a glance:
- BlackRock Inc. with your own Spot Bitcoin Trust
- Bitcoin Trust available for institutional investors from the USA
- BlackRock Responds to High Demand for Bitcoin and Crypto Products
- Cooperation with Coinbase and Aladdin makes BlackRock active
BlackRock Expands Bitcoin and Crypto Offerings
With assets under management of around $10 trillion US dollars, the American company BlackRock Inc. the world’s largest asset manager.
Based on the current blog post from Thursday, 11.08.2022, BlackRock announces the first, own spot Bitcoin Trust to be issued.
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With the BlackRock Fund for Bitcoin (BTC), institutional customers now have the opportunity to participate in the performance of BTC without having to invest in the cryptocurrency themselves.
However, such a trust does not fully cover the performance of a cryptocurrency, as there are possible administrative fees and costs. However, institutional investors are often not legally authorized to make direct investments in an asset class, such as Bitcoin.
A spot Bitcoin Trust from BlackRock now offers institutional clients the opportunity to invest in Bitcoin to a certain extent
The primary reason for the issuance of the current Bitcoin Trust by BlackRock is the substantial customer interest, which is given despite a difficult market situation.
Here, too, BlackRock uses the existing customer network to create a simple and accessible solution for institutional clients to assets such as Bitcoin and co.
Another reason is the recent partnership between BlackRock and Coinbase. The asset manager benefits above all from Coinbase’s regulatory knowledge and the already existing infrastructure for trading cryptocurrencies.
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This will make it easier for customers of the platform to buy cryptocurrencies such as Bitcoin. In the blog post, BlackRock substantiates the relevance of Bitcoin, emphasizes the high liquidity and the consistently high demand for the crypto asset, which is still seen as synonymous with the crypto market for a large number of customers.
BlackRock: Bitcoin and Crypto Strategy
Finally, it can be said that the asset manager BlackRock is constantly expanding its own capacities and product offerings in the crypto area.
Here, too, fundamental market principles apply, so that a constant demand on the customer side cannot be ignored. At the same time, BlackRock CEO Larry Fink repeatedly emphasizes the relevance of Bitcoin and the fact that the asset manager is constantly looking at the overall market and the associated opportunities.
BlackRock and the impact on the Bitcoin price
Despite macroeconomic risks that exist in terms of inflation and global supply chain, BlackRock’s statements underscore the interest of institutional clients in Bitcoin, blockchain and cryptocurrencies in general.
Thus, the announcement of the news is to be understood at least in the short term as a positive signal for the market, which is also expressed in a currently rising Bitcoin price.
The positioning of the world’s largest asset manager is also a good signal in the medium to long term. It underlines the interest of large institutional clients to build up a certain exposure in the crypto market.
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