BlackRock Launches Private Trust Offering Direct Bitcoin Exposure

[BlackRock Launches Private Trust to Provide Direct Bitcoin Risk Exposure] Jinse Finance reported that BlackRock has launched a private trust to provide spot Bitcoin risk exposure for U.S. institutional clients. The trust will be offered to institutional clients in the U.S. and will be BlackRock's first product to provide direct exposure to the price of bitcoin. BlackRock said in a statement: “Despite the sharp decline in the digital asset market, we are still seeing strong interest from some institutional clients in how we can leverage our technology and product capabilities to efficiently and affordably access these assets.

On August 4, BlackRock announced an agreement with cryptocurrency exchange Coinbase to offer cryptocurrencies to institutional investors, starting with Bitcoin. BlackRock, which manages about $9 trillion in client funds, will use Coinbase Prime for its services.

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Jinse Finance previously reported that BlackRock has launched a private trust to provide spot bitcoin exposure to U.S. institutional clients. The trust will be offered to institutional clients in the U.S. and will be BlackRock's first product to provide direct exposure to the price of bitcoin. [2022/8/12 12:21:39]

BlackRock's asset management scale shrunk by US$1.7 trillion in the first half of the year: Golden Financial News, asset management company BlackRock (BlackRock) is the first company with an asset management scale of more than US$10 trillion, and lost US$1.7 trillion in the first half of this year Client Funds.

BlackRock reportedly has no plans to launch any bitcoin products. However, the company is bullish on blockchain technology. In April, BlackRock launched a blockchain and technology ETF that allows investors to invest in companies involving blockchain technology. The fund has a portfolio of 33 companies, including Coinbase, Riot Blockchain and Galaxy Digital. [2022/7/21 2:28:46]

BlackRock executives: Blockchain technology is "incredibly" disruptive and innovative: On June 24, Salim Ramji, global head of ETF and index investment at investment giant BlackRock, recently accepted In an interview with Financial News, he spoke highly of the blockchain, saying that the technology, which is the basis of Bitcoin and other cryptocurrencies, is "incredibly" disruptive and innovative. The executive highlighted blockchain's potential to increase the efficiency of financial markets. Ramji said that while major financial firms such as Fidelity have filed their ETF applications, BlackRock still has no intention of launching its own bitcoin product, as the firm hopes to meet expectations in terms of quality and regulatory compliance. [2022/6/25 1:30:19]