BlackRock Finally Launches Bitcoin Investment Program for Its Clients

Finally, the giant US investment services company, BlackRock, launched a Bitcoin investment program for its clients.

In the past, BlackRock had a negative view of crypto assets, especially Bitcoin. However, over time the company has now seen the potential of this major crypto asset.
This adds the company to the list of crypto asset advocates, which will certainly have a positive impact on the development of the industry in the long run because BlackRock has a large clientele of institutional class.

BlackRock Launches Bitcoin Investment Program

According to a CNBC report, the company that already manages $10 trillion in assets has launched a private trust to offer direct exposure to Bitcoin for institutional clients in the US.“Despite the sharp decline in the digital asset market, we are still seeing great interest from some institutional clients about how to access these assets efficiently and cost-effectively using our technology and product capabilities,” said a BlackRock Representative.

The company continues to say, the company values ​​Bitcoin as the oldest, largest and most liquid crypto asset. Currently, BlackRock clients make Bitcoin their main interest in exploring the crypto industry.Previously, the CEO of BlackRock, Larry Fink, had said earlier this year that the company's clients have shown an interest in digital assets, and it is increasing.

Although the investment services company has started to turn to Bitcoin, the problems surrounding its mining are still an obstacle for most investors.And to tackle that, BlackRock has highlighted the work of energy nonprofits RMI and EnergyWeb, which are looking to bring the use of renewable energy to Bitcoin mining. This would reduce carbon levels massively, by more than 80 percent if applied globally.

Apparently, BlackRock sees bright prospects for crypto assets after seeing the development of regulations that continue to improve for crypto assets.“There is potential to benefit our clients and the broader capital market, including [regulation for] permitted blockchains, stablecoins, crypto assets and tokenization,” said BlackRock.

In addition, the company has partnered with crypto exchange Coinbase to enable their institutional clients to buy Bitcoins easily.