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BlackRock goes Bitcoin – “Secret world power” offers investments in BTC

 


As the Bitcoin price continues to weaken, the influential asset manager BlackRock has now announced that it will now allow its institutional clients to invest in Bitcoin ( BTC ).


To do this, the asset manager, which manages more than $10 billion in assets, is now setting up a Bitcoin mutual fund that will take the form of a private trust. The relevant announcement states:


“Despite the steep downturn in crypto markets, we are still seeing significant demand from some institutional clients looking to use our technology and services to access this asset class. Bitcoin is the oldest, largest and most liquid cryptocurrency and is currently the most sought-after digital asset among our customers.”

In fact, without taking stablecoins into account, Bitcoin holds a market share of almost 50%, which shows how strong the market dominance of the leading cryptocurrency still is.


The crypto industry and the Bitcoin course have already reacted enthusiastically to the positive news , because the large asset manager is considered a “ secret world power ” on the financial markets. In this context, the experts point out that this step will not only make the market-leading cryptocurrency accessible to a large number of institutional investors, but that many other financial service providers will probably also feel compelled to include Bitcoin in their offering.


Last week, BlackRock partnered with crypto exchange Coinbase to give its customers direct access to cryptocurrencies, starting with Bitcoin. Thus, the institutional clients of the BlackRock trading platform Aladdin can invest directly in crypto via Coinbase Prime.


It remains to be seen whether and when institutional investors will also have access to the second-placed cryptocurrency Ethereum via BlackRock. With the upcoming merger and the associated change in monetary policy , the leading altcoin is at least in the best position to challenge its big brother for the crown.

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