BlackRock Unveils Bitcoin Trust for Institutional Investors

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Asset manager BlackRock has announced that it has launched a US-based institutional-focused trust that tracks the price of BTC.

We should note this is the company’s first product of this type.

According to the press release:

“Despite the sharp downturn in the cryptocurrency market, we continue to see significant interest in how to efficiently and cost-effectively access these assets using our technology.”

The company has reported that it sees the potential for more capital markets to use stablecoins, cryptocurrencies, as well as private blockchains and tokenization capabilities.

BlackRock’s AUM amount to as much as $9.5T.

We should remember that Coinbase has previously agreed to cooperate with BlackRock.