BlackRock Looks To Launch Crypto Trading Services: Report

The biggest asset manager in the world BlackRock looks to launch crypto trading services according to a new report that we are reading more about in today’s latest cryptocurrency news.

The decision came after a year from the company dipping its toes by trading BTC and reporting that it owns stocks of BTC mining companies. Citing people familiar with the matter, the reports show that BlackRock aims to enter the digital asset space with the clients supporting trading and then their own credit facility which will allow the investors to borrow from the asset manager by providing crypto as collateral.

Another source claimed that the public pension organizations and the endowments, as well as sovereign wealth funds, have the option to trade crypto via BlackRock’s integrated investment management platform dubbed Aladdin which is short for Asset, Liability, Debt and Derivative Investment Network. As Blackrock looks to launch crypto trading, it has over $10 trillion in AUM and it already sampled the industry last year when it made a short-term BTC trade via the Chicago Mercantile Exchange.

Reports emerged indicating that the company owned about $400 million worth of shares of BTC mining companies. The organization’s executives like CEO Lary Fink and CIO Rick Rieder praised altcoins but most specifically Bitcoin. Fink even predicted that BTC can become a great asset class and become a threat to the US dollar but it still has to prove itself.

As recently reported, The investment firm with $10 million in assets under management, Blackrock Asset manager filed an ETF and hopes to launch an exchange-traded fund called the Ishares blockchain tech ETF. This is according to the SEC filing submitted by Blackrock which says that the fund will track the ICE index called the NYSE Factest Global Blockchain Technologies Index. According to the documents, NYFSBLC was initiated on December 31, 2021, and the ETF filing investment objective said that the Ishares Blockchain and Tech ETF seeks to track the investment results of the index composed of US and non-US companies which are involved in the development and innovation and utilization of blockchain as well as crypto technologies.

With nearly $9 trillion in assets under management, BlackRock is the world’s biggest investment company in the world ahead of UBS, Fidelity, Vanguard, JPMorgan Chase, BNY Mellon.