BlackRock has followed up its Coinbase partnership with its first institutional crypto investment product: a private bitcoin trust that offers direct exposure to spot BTC price action.
- BlackRock has debuted its first investment product offering direct exposure to bitcoin, according to a statement issued on Thursday (August 12, 2022).
- The product is a private bitcoin trust for institutional clients based in the US that offers direct exposure to the spot price of the largest crypto by market capitalization.
- According to the company, the introduction of the product offering is in response to an increased interest from its big money clients who want to access cryptocurrency. An excerpt from the announcement reads:
“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.”
- Today’s announcement comes shortly on the heels of the $10 trillion asset manager inking a deal with US exchange giant Coinbase.
- This deal is to enable BlackRock to begin offering crypto investment products to institutional investors via Coinbase Prime.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
- AA News
- Bitcoin
- BlackRock
- blockchain
- blockchain compliance
- blockchain conference
- coinbase
- coingenius
- Consensus
- crypto conference
- crypto mining
- Crypto News
- cryptocurrency
- CryptoPotato
- decentralized
- DeFi
- Digital Assets
- ethereum
- machine learning
- non fungible token
- plato
- plato ai
- Plato Data Intelligence
- Platoblockchain
- PlatoData
- platogaming
- Polygon
- proof of stake
- W3
- zephyrnet
More from CryptoPotato
ETH Must Hold This Level to Prevent Another Crash (Ethereum Price Analysis)
Source Node: 1635743
Time Stamp: Aug 23, 2022
PwC Report: Crypto Merger Deals Skyrocketed 5,000% in 2021
Source Node: 1172385
Time Stamp: Feb 12, 2022
Terraform Labs Has Paid in Full its Taxes in South Korea, Says Do Kwon
Source Node: 1320502
Time Stamp: May 22, 2022
1xBit Announces Polygon Is Now Available for Crypto Gambling
Source Node: 1702221
Time Stamp: Sep 28, 2022
Here’s How Crypto Traders are Converting Worthless NFTs into Tax Breaks
Source Node: 1859494
Time Stamp: Jan 1, 2023
Crypto Industry Maintained Activity in February Despite Geopolitical Tension (Report)
Source Node: 1888498
Time Stamp: Mar 5, 2022
4,000 ETH ($7.5M) Compromised Following Latest DeFi Exploit
Source Node: 2111348
Time Stamp: May 28, 2023
Big Short’s Michael Burry Says He “Was Wrong to Say Sell”
Source Node: 2039736
Time Stamp: Mar 30, 2023
21Shares Will Launch a Bitcoin ETP in the UK and France This Summer
Source Node: 907504
Time Stamp: Jun 7, 2021
IBC Group Plans to Relocate BTC Mining Facilities Out of China to the US, Canada, and More
Source Node: 962282
Time Stamp: Jul 5, 2021