investment company BlackRock, directly Bitcoin (BTC) announced that it will start offering focused fund. The fund will be the first directly Bitcoin (BTC)-based fund and will serve US customers.
The private fund targeting BlacRock’s US institutional clients and allowing them to invest in spot Bitcoin was announced on the company’s official website. In the announcement, the company underlined that they attracted great interest.
Excited for BlackRock Private Bitcoin Fund
BlackRock, which manages more than $10 trillion in assets, has taken a new step. Announcing its private fund focused on Bitcoin, the company underlined in its statement that Bitcoin holds more than 50 percent of the market cap. In fact, this is an answer to why the company has launched a Bitcoin-specific fund.
BlackRockIn his statement, he said:
BlackRock and Coinbase Collaboration
BlackRock and the cryptocurrency exchange coinbase on August 4 announced that it will collaborate with the company on access to crypto assets for its institutional investors. Today, exactly one week after this news, the Bitcoin fund statement came from the BlackRock front. BlackRock, which manages approximately $9 trillion in funds, Coinbase Primewill use .
This news comes just a year after BlackRock CEO Larry Fink said there was little demand for digital assets. The interest in crypto assets by the institutional investor is a positive situation for the market. In the bull rally we experienced in 2021, the fund strength and interest of institutional investors in crypto gave the market a good period.