BlackRock dives into cryptocurrencies – Black rockthe colossus with 10,000 billion dollars in assets under management, is no longer satisfied with exchanging “only” a few tens of millions of dollars in bitcoin (BTC). This mid-April 2022, the multinational has already done so invested $ 400 million in Circlethe company issuing the USDC stablecoin. Now, BlackRock is launching its own Blockchain ETF !
BlackRock is seizing the cryptocurrency opportunity with its Blockchain ETF
The asset management giant Black rock it had become a lot discreet on his ambitions in the world of Bitcoin and cryptocurrencies. But now it is moving forward discovery. In fact, this April 25, 2022, BlackRock launched its new exchange-traded fund called “iShares Blockchain and Tech ETF” (IBLC).
The subsidiary iShares BlackRock brings together a whole set of various ETFs (exchange traded funds). The New York Stock Exchange NYSE Ark together with this new blockchain fund. This ETF does not directly own any cryptocurrency. Rather, it is $ 4.7 million assets of companies related to the cryptosphere and distributed ledger technology (DLT). Including shares of the crypto-exchange Coinbaseand BTC miners Digital marathon And Riot blockchain.
The stated goal of this new BlackRock ETF is to enable its investors to access opportunities in the cryptocurrency sector, which is experiencing “rapid growth as blockchain use cases expand”.
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The gigantic influx of innovations from cryptocurrencies has yet to be ” price “
BlackRock’s iShares subsidiary has released a report outlining three large areas of profound changes of the world economy. Which makes them sources of high rise.
The digital assets sector and its multiple technologies is part of. And the most beautiful? BlackRock does it outright the promotion transactions via Bitcoin, why without intermediaries.
“Simplify transactions [avec Bitcoin]. Without intermediaries [ndlr : les banques] to facilitate transactions, you can get your purchases faster. “
And optimism from the wealth management giant for the future of cryptocurrencies is actually overflowing. BlackRock therefore believes that the incredible potential of digital assets is at a standstill far from being properly evaluated (” price ), especially if it inspires the digital currencies of central banks (MNBC):
“(…) 2.5 billion people do not have access to banking services, yet 60% of them have a smartphone. (…) However, the market still seems to underestimate how these advantages, led by MNBC and independent cryptocurrencies, can accelerate financial inclusion. While most of the market attention has focused on the price and volatility of the cryptocurrencies themselves, we believe the broader opportunity – using blockchain technology for payments, contracts and general consumption – has not yet been price from the market. “
Extract from the iShares / BlackRock report
Cryptocurrencies and their technologies are progressing in all directions. They seduce increasingly (very) major players in global finance. Another asset management giant, Loyalty investments (with $ 4.2 trillion under management), it just opened the chance to its clients contribute bitcoin to their retirement savings plan.
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