BlackRock Launches Bitcoin Spot Investment Fund

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The largest asset management company BlackRock continues to implement support for cryptocurrencies and launched its first Bitcoin spot investment fund.

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The new cryptocurrency tool will track the price of bitcoin, and stocks will rise and fall in price, according to the BTC rate. Investors will only need to pay certain costs of maintaining the trust.

In fact, this is a complete analogue of the Bitcoin spot ETF, but only American institutional investors working with BlackRock can access it. An article on the BlackRock blog notes:

“Despite the sharp decline in the digital asset market, we continue to see significant interest from some institutional clients. They want to access crypto assets efficiently and cost-effectively using the power of our technology and platform. Bitcoin is the oldest, largest, and most liquid coin on the market and remains the primary focus of interest for our clients in the digital asset space. If we exclude stablecoins, then bitcoin occupies about half of the entire cryptocurrency market.”

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The authors of the article did not fail to mention that bitcoin mining is becoming more and more “green” and transparent.

Recall that in early August, BlackRock and Coinbase entered into a partnership, under which the ability to trade digital assets will be added to the Aladdin platform.

Source: Bits

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