Investment management firm BlackRock has launched a private trust offering a Bitcoin cash trust product for U.S. institutional clients, and will be the firm's first direct exposure to Bitcoin.
BlackRock said in a statement that despite the sharp downturn in the digital asset market, they are still seeing strong interest from some institutional clients in investing in digital assets.
Blackrock announced on August 4th that it had entered into an agreement with Coinbase to provide cryptocurrency investment services to institutional investors, starting with Bitcoin. Coinbase (COIN) surged 15% to $92.61 after the news was released. In New York. The partnership with BlackRock has provided some relief for Coinbase shares, which have fallen by more than two-thirds this year.
Only the officials are allowed to set fire, not the people.
BlackRock may offer its clients spot Bitcoin-related investment products through private funds, but the SEC does not approve retail spot ETFs ......
Cryptocurrency assets have plummeted this year, with Bitcoin losing roughly half its value in 2022, while the collapse of Terra Ecosystems and hedge fund Three Arrows Capital raised questions about the market's resilience and prompted increased regulatory scrutiny. Even though the cryptocurrency market has had a disastrous year.BlackRock's move confirms the determination of Wall Street's TradFi to get involved in cryptocurrency.。
However, at this stage, many policies are obviously biased in favor of the big players, while the general public is being pushed and pompous for trivial matters, so how can they be popularized? Is it because all the bigwigs are only money-makers?