BlackRock partners with Coinbase to provide bitcoin access to institutional investors, despite market downturn
BlackRock Inc., the world’s largest asset manager, is partnering with Coinbase Global Inc. to provide direct access to bitcoin for a number of institutional customers.
Popular Coinbase Customers
COIN,
and BlackRock’s
BLK,
Aladdin’s investment management platform will have access to crypto trading, custody, primary brokerage and reporting capabilities, according to a statement on Thursday.
“Our institutional clients are increasingly interested in exposure to the digital asset market and are focused on how to effectively manage the lifecycle of these assets,” said Joseph Chalom, head of digital asset management. global leader in strategic ecosystem partners at BlackRock, wrote in the statement.
In March, BlackRock president Larry Fink wrote in a letter to shareholders that the company is working on digital currencies, stablecoins, and underlying technologies as the company has noticed growing interest from customers.
Bitcoin
BTCUSD,
was trading at around $22,952 on Thursday, down 1.6% over the past 24 hours, according to CoinDesk data.
