BlackRock, The World’s Largest Asset Manager, Releases Spot Bitcoin Private Trust

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Last Updated on August 11, 2022 by Bitfinsider

According to a statement from the firm, BlackRock Inc., the largest asset manager in the world with $10 trillion in Assets Under Management (AUM), has introduced a spot bitcoin private trust that enables direct BTC exposure for its institutional clients.

“Bitcoin is the oldest, largest, and most liquid cryptoasset, and is currently the primary subject of interest from our clients within the cryptoasset space,” as stated by BlackRock.

The news was released shortly after BlackRock made another declaration about Bitcoin. The asset manager announced a relationship with Coinbase earlier this month, enabling its clients to trade bitcoin. The Coinbase Prime platform, which would be in charge of keeping track of the institution’s assets, would be the only place where clients of BlackRock would be able to physically interact with bitcoin under this partnership.

“Leveraging Coinbase’s comprehensive trading, custody, prime brokerage and reporting capabilities, common clients will be able to manage their bitcoin exposures alongside their public and private investments,” BlackRock added.

The custodial transfer of bitcoin will not be supported by BlackRock’s institutional bitcoin trust. However, the trust’s worth will be determined by the spot price of bitcoin, and the asset manager will probably once more use a custodial partner.

Additionally, the introduction of a spot bitcoin trust for institutions is a sharp reversal from remarks made by Larry Fink, CEO of BlackRock, last year. Regarding the institutional interest in bitcoin, Fink said: ““In my last two weeks of business travel not one question has been asked about that.”

However, institutional investors have undoubtedly corrected their positions, as BlackRock noted in the unveiling of its Bitcoin trust: “Despite the steep downturn 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.” 


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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