BlackRock dives into crypto – BlackRock , the giant with $10 trillion in assets under management, is no longer content to trade “only” a few tens of millions of dollars worth of bitcoins (BTC). This mid-April 2022, the multinational has already invested $400 million in Circle , the company issuing the USDC stablecoin . Now, BlackRock is actually launching its own Blockchain ETF  !

BLACKROCK IS JUMPING AT THE CRYPTO-ASSET OPPORTUNITY WITH ITS BLOCKCHAIN ETF

The colossus of asset management BlackRock had been very discreet about its ambitions in the world of Bitcoin and cryptocurrencies. But now he is advancing openly . Indeed, on April 25, 2022, BlackRock launched its new exchange-traded fund called “iShares Blockchain and Tech ETF” (IBLC).

BlackRock’s iShares subsidiary brings together a whole set of various ETFs ( exchange-traded funds ). The NYSE Arca New York Stock Exchange has listed this new blockchain fund. This ETF does not directly own any cryptocurrencies. Rather, it is $4.7 million in assets from companies related to the cryptosphere and distributed ledger technology (DLT). Including shares of the crypto exchange Coinbase , and miners of BTC Marathon Digital and Riot Blockchain .

The stated objective of this new ETF from BlackRock is to allow its investors to access opportunities in the crypto-asset sector, which is experiencing “rapid growth, as the use cases of the blockchain develop” .

BlackRock launches its Blockchain ETF.
BlackRock’s new “iShares Blockchain and Tech” ETF – Source: blackrock.com

THE GIGANTIC CONTRIBUTION OF INNOVATIONS FROM CRYPTO-ASSETS HAS NOT YET BEEN “  PRICED  ”

BlackRock’s iShares subsidiary has released a report outlining three major areas of profound change in the global economy. This makes them sources of strong growth .

The sector of digital assets and its multiple technologies is one of them . And the most beautiful? BlackRock outright promotes transactions via Bitcoin, because without intermediaries .

“Simplify transactions [with Bitcoin]. Without intermediaries [note: banks] to facilitate transactions, you can get your purchases faster. »

BlackRock advertises transactions via Bitcoin.
Promoting Decentralized BTC Transactions – Excerpt from iShares/BlackRock Report

And the asset management giant’s optimism for the future of crypto is truly overflowing . BlackRock thus considers that the incredible potential of digital assets is still far from having been properly evaluated (”  priced  “), especially if it inspires digital central bank currencies ( MNBC ):

“(…) 2.5 billion people do not have access to banking services, and yet 60% of them have a smartphone. (…) Yet, the market still seems to underestimate how these benefits, driven by MNBCs and independent cryptos, can accelerate financial inclusion. While most of the market’s attention has focused on the price and volatility of cryptocurrencies themselves, we believe the broader opportunity – leveraging blockchain technology for payments, contracts and consumption in general – has not yet been priced  by the market. »

Excerpt from iShares/BlackRock report

Crypto-assets and their technologies are progressing in all directions. They are attracting more and more (very) major players in global finance. Another asset management giant, Fidelity Investments (with 4.2 trillion dollars under its management), has just offered the possibility to its customers to contribute in bitcoins for their retirement savings plan .

Will you support the Bitcoin revolution? It’s up to you to get on the crypto train! To do this, and begin to familiarize yourself with this exciting world, don’t wait to create an account on Binance , the benchmark Bitcoin and crypto exchange (affiliate link).

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