BlackRock Offers Spot Bitcoin Exposure Through Private Trust

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  • Clients will be able to control their Bitcoin exposures.
  • After a purchase or sell order is placed, the transaction is finalized instantly.

Financial institutions now have access to spot Bitcoin thanks to a private trust formed by global investment manager BlackRock. With this trust, institutional investors in the United States will have their first opportunity to have direct exposure to Bitcoin. A spot Bitcoin market is a place where investors may buy and sell Bitcoins at the current market price. After a purchase or sell order is placed, the transaction is finalized instantly.

In a news statement, BlackRock said that its customers have “access these assets” and that they perceive “substantial interest” in the cryptocurrency markets. In addition to public and private investments, clients will be able to control their Bitcoin exposures.

BlackRock said in a statement:

“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.” 

Rising Interest of BlackRock

Furthermore, BlackRock has been active in four sectors of digital assets. Permissioned blockchains, stable currencies, digital assets, and tokenization are all part of this wider ecosystem. 

A week ago, the financial services giant said that it will be collaborating with cryptocurrency exchange market leader Coinbase to provide cryptocurrency options to its institutional customers. BlackRock and Coinbase joined up to close the gap between Coinbase Prime and BlackRock’s Aladdin platform, making digital assets available to BlackRock’s clientele.

Institutional investors and financial institutions utilize BlackRock’s Aladdin investment management platform. Asset managers, corporate treasuries, insurance companies, and pension fund companies are among their clientele.

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