World's Biggest Asset Manager Launches Bitcoin Trust for Institutions
The world’s biggest asset manager, BlackRock, is launching its first Bitcoin-focused product. The world’s biggest asset manager appears to be doubling down on the world’s biggest cryptocurrency. BlackRock announced it had launched a private Bitcoin trust Thursday, giving its U.S.-based institutional clients exposure to spot Bitcoin for the first time.
The investment giant added that Bitcoin is the main crypto asset its clients are interested in, and that it has been exploring permissioned blockchains, stablecoins, crypto assets, and tokenization within the broader cryptocurrency ecosystem. On August 4, it was revealed that the firms had signed a deal to allow Coinbase to offer BlackRock’s clients crypto access. Coinbase Prime is facilitating the service.
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