Spot Bitcoin private trust now available for BlackRock institutional clients

Spot Bitcoin private trust now available for BlackRock institutional clients

American institutional clients have a new way to get direct exposure to Bitcoin. BlackRock Incorporated announced today that it has introduced a spot bitcoin private trust.  The new investment product, which is available exclusively to American institutional clients, closely tracks Bitcoin’s performance after factoring in the trust’s liabilities and expenses.

In a blog post announcing the new product, BlackRock said, “BlackRock is committed to providing clients with access to their choice of investment opportunities and has launched a spot bitcoin private trust.” The company went on to state, “We are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities.”

BlackRock’s announcement was by no means surprising.  Last week, Coinbase Global revealed that it was partnering with BlackRock to give the company’s institutional customers access to cryptocurrency custody and trading services.  And earlier this year, BlackRock CEO Larry Fink revealed that the company’s clients had demonstrated growing interest in the blockchain, stablecoins, and cryptocurrencies.

BlackRock also noted, “BlackRock recently announced a partnership with Coinbase that will provide common clients of Aladdin and Coinbase access to the digital assets trading lifecycle through connectivity between Coinbase and the Aladdin platform, starting with bitcoin. 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.”

More information about BlackRock’s bitcoin private trust can be found at blackrock.com/institutions/en-us/insights/bitcoin-private-trust.

 

 

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