World’s Largest Asset Manager BlackRock to Launch Crypto Trading Services (Report)

The world’s largest asset manager plans to double down on its cryptocurrency engagement by launching such trading services, asserted a new report. This comes a year after the company dipped its toes by trading bitcoin and reporting owning stocks of BTC mining companies.

  • Citing people familiar with the matter, CoinDesk informed that BlackRock aims to enter the digital asset space with “client support trading and then their own credit facility.”
  • This will allow investors to borrow from the asset manager by providing cryptocurrencies as collateral.
  • Another source claimed that public pension organizations, endowments, and sovereign wealth funds will have the option to trade cryptocurrencies through BlackRock’s integrated investment management platform – Aladdin (Asset, Liability, Debt, and Derivative Investment Network.)
  • The NYC-based behemoth with over $10 trillion in AUM sampled the cryptocurrency industry last year by making a profitable short-term bitcoin trade through the Chicago Mercantile Exchange (CME).
  • Later on, reports emerged indicating that the firm owned nearly $400 million worth of shares of Bitcoin mining companies.
  • In the meantime, the organization’s executives, such as CEO Larry Fink and CIO Rick Rieder, praised bitcoin and some altcoins. Fink even predicted that BTC could become a great asset class and a threat to the US dollar, but it still has to prove itself.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

You Might Also Like:


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 69,518.63 0.31%
Ethereum (ETH) $ 2,491.86 0.93%
Tether (USDT) $ 0.999947 0.03%
BNB (BNB) $ 569.39 0.56%
Solana (SOL) $ 164.92 1.01%
USDC (USDC) $ 1.00 0.07%
XRP (XRP) $ 0.509964 1.26%
Lido Staked Ether (STETH) $ 2,490.88 0.82%
Dogecoin (DOGE) $ 0.15994 0.40%
TRON (TRX) $ 0.166229 0.71%