BlackRock launches its first fund offering direct exposure to Bitcoin

BlackRock launches its first fund offering direct exposure to Bitcoin

BlackRock dives into crypto – To say that just a year ago, in July 2021, Larry FinckDirector of black rockI affirm that Bitcoin (BTC) and cryptos were “very little requested” by its clients. Today, however, the investment fund announces the opening your own offer of direct exposure to BTC. With BlackRock, it seems best to look at the facts what to listen lyrics.

BlackRock officially becomes a seller of bitcoins

The news is falling right now, according to information shared by the block : after leaking rumors about his interest in Bitcoin this week, the giant black rock just released a private trust for its wealthiest American clients.

The particularity of the latter, and no less important: it finally offers a direct exposure really bitcoin !

After progressive exposure from blackrock to bitcoin in 2021or the most recent formalization of your contract with Coinbase to manage the nuts and bolts of its future crypto bets, BlackRock is taking another decisive step toward bitcoin and cryptocurrency market.

An offer to buy BTC offered to its wealthy US customers

Initially, this trust will only be open to institutional clients based in the United States by BlackRock. As mentioned above, this will be real bitcoinsbought in the market place (cash), and no futures contracts (future) settled in dollars or other fiduciary currencies.

“Despite the sharp decline in the digital asset market, we are still seeing substantial interest from some institutional clients on how to efficiently and profitably access these assets, using our technology and product capabilities. »

Have BlackRock’s wealthy institutional clients left “very little demand” a “substantial interest” in just one year? Or is it rather the denial of a confession: that BlackRock was late and not ready yet to offer this type of crypto service… In any case, BlackRock executives have repeated, at least twice, that they perceive Bitcoin and cryptocurrencies as “sustainable assets”.

The market has many unexpected surprises! Even the big mutual funds have their finger in the eye. Looking for a more classic exchange? Join PrimeXBT today the platform for trading cryptos, but also commodities and currencies (trading link).

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