BlackRock – the world’s largest asset manager – has partnered with Kraken’s subsidiary CF Benchmarks to assist with its newly established Bitcoin Trust.
- According to a report from The Block, BlackRock’s Bitcoin product will be benchmarked using CF Benchmark’s indexes.
- CF Benchmarks is a member of the Crypto Facilities Group, of which is part of the Payward Group. Payward owns and operates Kraken, one of the oldest and largest crypto exchanges.
- CEO Sui Chung said that institutions are increasingly showing interest in crypto, despite the current bear market.
-
“The understanding of digital assets themselves is much greater than it was, people we talk to now understand the difference between bitcoin and ether,” Chung said. “People no longer lump bitcoin and ether into the same bucket and are more aware of the fundamentals of the assets.”
- Chung said the firm’s agreement with BlackRock has been in the works since 2021. “They wouldn’t launch a product unless there was demand,” he added.
- Blackrock partnered with Coinbase to launch its institutional grade Bitcoin trust last month. It allows investors to trade and custody Bitcoin on Blackrock’s platform, with help from Coinbase Prime.
- Anthony Scarmucci of SkyBridge predicted that Blackrock’s product will create a Bitcoin demand shock.
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
- Kraken
- machine learning
- non fungible token
- plato
- plato ai
- Plato Data Intelligence
- Platoblockchain
- PlatoData
- platogaming
- Polygon
- proof of stake
- W3
- zephyrnet
More from CryptoPotato
MakerDAO Co-Founder Proposes Dumping $3.5 Billion USDC Reserves for ETH
Source Node: 1618466
Time Stamp: Aug 11, 2022
Billions of People to Use Blockchain Tech Soon: Pantera Capital CEO
Source Node: 1687919
Time Stamp: Sep 24, 2022
Almost Half of Singaporeans Own Cryptocurrencies: Independent Reserve Survey
Source Node: 993454
Time Stamp: Jul 26, 2021
John McAfee’s Demise a Bottleneck for the U.S. Government’s Asset Recovery Efforts
Source Node: 952345
Time Stamp: Jun 30, 2021
Ripple Price Analysis: XRP Drops Below a Critical Support, is $0.50 in Play?
Source Node: 1185344
Time Stamp: Feb 24, 2022
Nigeria’s Presidential Candidate Adebayo to Create 30 Million Jobs Using Crypto
Source Node: 1745779
Time Stamp: Nov 7, 2022
Bitcoin ETFs Could Grow Larger Than Gold ETFs Within Two Years: Bloomberg
Source Node: 2496937
Time Stamp: Feb 26, 2024
Billionaire Investor Carl Icahn May Get Into Crypto “In a Relatively Big Way”
Source Node: 883656
Time Stamp: May 27, 2021
China Securities Journal Says Cryptocurrency Trading Is Risky and Calls for Strict Supervision
Source Node: 861289
Time Stamp: May 17, 2021