CryptoCurrency News - August 11, 2022

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.

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.

You Might Also Like:

  • BlackRock Building. Source: FT
    BlackRock Taps Coinbase for Institutional Crypto Trading and Custody Services
  • Bitcoin_Network
    Bitcoin is the Amazon of the Crypto Era, Says Former BlackRock Exec
  • Coinbase
    Coinbase to Launch First Listed Crypto Derivatives Product


Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Not The 2018 Bear Market, Bitcoin Price Could Hit $20,000 In December

The Bitcoin price rebounded off the low of its current range and retraced its weekend loss…