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    Home » Crypto News » BlackRock Makes Crypto Splash With Private Bitcoin Investment Trust Product

    BlackRock Makes Crypto Splash With Private Bitcoin Investment Trust Product

    Author: Anthonia Isichei

    Last Updated Aug 12, 2022 @ 08:44

    The $10 trillion BlackRock is set to begin offering direct exposure to bitcoin for institutional investors via a private BTC trust product.

    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.
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    Tags: Bitcoin BlackRock
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    About The Author

    Anthonia Isichei
    More posts by this author

    Anthonia is a fintech writer who has been involved in the crypto space since 2017 covering developments across regulations, adoption, and several other aspects of the Industry. When not neck-deep in the crypto news cycle, Anthonia spends her free time globetrotting and playing video games.

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