BlackRock, the world’s largest asset manager, announced in a blog post on Thursday the launch of a new private bitcoin trust. BlackRock said: “Bitcoin
BlackRock underscored its commitment to offering its clientele a variety of choices in its investment portfolio. “Black rock
With bitcoin priced lower against the US dollar over the past five months, BlackRock said some of its institutional investors are still expressing interest in the digital asset. “Despite the sharp decline in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities,” said said the blog.
The company also noted how organizations such as RMI and Energy Web are developing programs to bring greater transparency to sustainable energy use in bitcoin mining, and will monitor the progress of these initiatives. BlackRock also noted that four areas of digital assets have the potential to help their customers and broader financial markets, including permissioned blockchains, stablecoins, cryptoassets, and tokenization.
With the recent announcement earlier last week regarding the partnership with Coinbase, BlackRock explained how joint clients would be able to track their bitcoin exposures alongside their public and private investments. Overall, the world’s largest asset manager describing bitcoin as the oldest, largest and most liquid digital asset is certainly a signal of the size of the growing and trending space. to some of the more traditional Wall Street investment portfolios.
Disclosure: I hold bitcoins. This article is not financial advice.