$10 Trillion BlackRock Launches Bitcoin Private Trust for Clients

Investment and financial services firm BlackRock plans to launch a Bitcoin private trust in the United States, according to an official post. The investment product was created as a response to the “substantial interest” from the firm’s clients, which remains despite the price of his BTC losing more than 50% of its value in 2022. I was.

Spot Bitcoin Private Trust, as the name suggests, provides BlackRock clients with exposure to the price of the underlying asset in that market. So far, the company’s clients in the US have little choice to expose themselves to cryptocurrency prices in a cost-effective manner.

Despite the plunge in the digital asset market, some institutional investors have shown great interest in how our technology and product capabilities can be used to access these assets in an efficient and cost-effective manner. I’m here.

BlackRock, the largest investment firm on the planet, has over $10 trillion in assets under management (AUM) and an estimated annual revenue of approximately $20 billion. In an official post, the company acknowledged Bitcoin as “the oldest, largest and most liquid cryptocurrency and currently the primary focus of clients in this space.”

The news has been well received by cryptocurrency investors due to BlackRock’s relevance to the traditional financial world.Analyst Will Clemente Said The following Bitcoin Private Trust in situ:

A final comment on the subject: BlackRock news is probably the most bullish news for long-term Bitcoin holders. Not just the news itself, but a signal that for some people water is fine and for others they will eat lunch if they don’t give their clients her BTC.

BTC price with a significant rise on the 4-hour chart. sauce: BTCUSDT Tradingview

BlackRock commits to four sectors of the Bitcoin and crypto space

BlackRock is a leader in the Environmental, Social and Governance (ESG) movement. The company and others pour billions of dollars into companies that meet the criteria. Bitcoin was thought to be out of this movement due to its alleged high energy consumption.

Today’s announcement by the world’s largest investment firm sends a completely different signal to the financial world.According to analytics account MacroScope, BlackRock has waving “A green ‘BTC is fine’ flag to the entire ESG-focused investment sector”.

The above could have a significant bullish impact on Bitcoin in the long term. tokenization).

As reported by Bitcoinist, the investment firm recently announced a partnership with cryptocurrency exchange Coinbase to give ordinary customers access to digital currencies. Investment recently said about working with the platform:

Leveraging Coinbase’s comprehensive trading, custody, prime brokerage, and reporting capabilities, retail customers will be able to manage their Bitcoin exposure along with public and private investments.

$10 Trillion BlackRock Launches Bitcoin Private Trust for Clients

Source link $10 Trillion BlackRock Launches Bitcoin Private Trust for Clients

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