The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said. "Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets," the company said. The move comes a week after cryptocurrency exchange Coinbase Global Inc said it had partnered with BlackRock to provide its institutional clients with access to crypto trading and custody services.
If there is one crypto to buy right now, it's Bitcoin (CRYPTO: BTC). There is a paradigm shift happening in the investment world right now, and Bitcoin is the reason. In early August, Coinbase (NASDAQ: COIN) announced that it was linking with the world's largest asset manager, BlackRock (NYSE: BLK), to offer crypto investment services for large institutional investors and wealthy private clients.
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