BlackRock opens access to bitcoin

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BlackRock Investment Company launched private trust offering US institutional investors access to bitcoin, reports RBC Crypto.

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“Despite the sharp downturn in the crypto market, we continue to see high interest from some institutional clients on how to access these assets efficiently and cost-effectively,” BlackRock said in a statement.

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In early August, the company announced a partnership with crypto exchange Coinbase to provide institutional investors with access to cryptocurrencies. BlackRock manages approximately $9 trillion in client funds.

BlackRock first announced its interest in cryptocurrency in January 2021. Then the company sent a statement to the SEC, from which it became known that two of its funds – BlackRock Funds V and BlackRock Global Allocation Fund – are considering trading bitcoin futures. In April of the same year, BlackRock began working with bitcoin, making transactions with futures on the Chicago Commodity exchange (CME).

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Source: Cryptocurrency

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