- 22 February 2022
- Posted by: Cryptovalues
- Category: Cryptovalues News, World News
BlackRock has decided to move into the crypto world and it will do so competently and critically, taking into account its incredible assets.
The fund with a total of $10 trillion in assets under management at the end of 2021 and $3.3 trillion in ETFs under management, according to the company’s latest financial results, has unveiled an exchange-traded fund (ETF) that focuses on blockchain technology and represents an index composed of companies involved in the “development, innovation and use of blockchain and crypto technologies.
Looking back to June 2021, a job advertisement had been released by BlackRock seeking an experienced professional to develop a blockchain strategy for its Aladdin portfolio management system.
That news, which might have seemed of no great importance, instead hid the will to make a decisive start in the digital sphere.
The news of the last few days is destined to represent a bit of a revolution, as the New York-based company is preparing to offer a cryptocurrency trading service to its investor clients.
BlackRock would allow its clients, which include public pension funds, endowments and sovereign wealth funds, to buy cryptocurrencies through Aladdin (short for “Asset, Liability, Debt and Derivative Investment Network”), the asset manager’s integrated investment management platform.
It is not known for the moment, according to indiscretions still to be confirmed, which will be the timing for the opening of the service, but it would seem to be on the way.
BlackRock also owns 16.3% of MicroStrategy, a company known for its massive investment in Bitcoin.