BlackRock Debuts Private Bitcoin Trust Giving Wealthy Clients Direct Access to Bitcoin

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BlackRock Debuts Private Bitcoin Trust Giving Wealthy Clients Direct Access to Bitcoin

The world’s largest asset manager just launched a private trust that tracks the performance of Bitcoin (BTC) for wealthy clients.

In a statement, BlackRock says that the spot Bitcoin private trust will cater to institutional clients in the United States.

The financial titan rolls out the new product as it aims to expand its investment opportunity offerings.

BlackRock says that its clients in crypto are primarily interested in Bitcoin. The firm also commends organizations such as the Rocky Mountain Institute (RMI) and Energy Web (EWT) that help address the king coin’s energy sustainability issue.

The firm, which currently holds $10 trillion in assets under management (AUM), is pursuing crypto projects amid a bear market that saw Bitcoin plunge to less than a third of its all-time high.

"N'agbanyeghị mbelata dị ukwuu na ahịa akụrụngwa dijitalụ, anyị ka na-ahụ nnukwu mmasị sitere n'aka ụfọdụ ndị ahịa ụlọ ọrụ maka otu esi enweta akụ ndị a nke ọma na nke ọma site na iji teknụzụ na ike ngwaahịa anyị."

The company recently teamed up with US-based crypto exchange Coinbase to help wealthy investors manage and trade BTC.

“Leveraging Coinbase’s comprehensive trading, custody, prime brokerage and reporting capabilities, common clients will be able to manage their bitcoin exposures alongside their public and private investments.”

According to ARK Invest founder Cathie Wood, BlackRock’s foray into the crypto space could potentially abụọ ọnụahịa nke Bitcoin.

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