Yesterday news agencies reported that BlackRock launched spot Bitcoin trust for it's institutional clients.
Ahem!!! This is very big news that most crypto peers are missing out on.
As if this wasn't big enough; recently, BlackRock announced a partnership with Coinbase(America's most preferred crypto bank or exchange) to provide it's institutional clients with access to Bitcoin through the BlackRock platform.
Now this is a big move to bolster bitcoin adoption to the masses.
To give it context, BlackRock is the world's largest asset manager with $10 trillion,AUM as of January 2022 with headquarters in New York.
If you take Bitcoin's market cap of around $500 billion,that's just 5% of Backrock's total.
"Bitcoin is the oldest, largest, and most liquid cryptoasset, and is currently the primary subject of interest from our clients within the cryptoasset space"
On their website, BlackRock put out this statement regarding #Bitcoin;
Forget what their CEO has been saying when asked about bitcoin.(Of course they have all been negative).
The institutions are coming big time!!!!
Remember Grayscale,another asset manager is still pushing for a bitcoin spot ETF and other players are still pushing for more spot ETFs.
#Crypto ain't early no more
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