Sign Up on MEXC
BlackRock, the world’s largest asset manager has maintained its stance to increase its services in the digital asset world. The asset management firm has launched a new blockchain exchange traded fund (EFT) for European users.
BlackRock exploring crypto options
As per reports, BlackRock added the iShares Blockchain Technology UCITS ETF to its product suite. This service will allow European users to utilize the same ETF features as US users. However, the asset manager’s this move have landed amid the increasing uncertainty in the crypto market.
The global crypto market is on a decline over the past few months. It has dropped under the crucial level of $1 trillion. However, Bitcoin, the world’s largest crypto price has dropped by 6% over the past 30 days.
Omar Moufti, Product Strategist for ETFs at BlackRock mentioned that they believe that blockchain and digital assets are going to become more relevant for the users.
BlackRock is slowly increasing its exposure in the digital asset market. It first launched US focused blockchain ETF in the first quarter of 2022. The asset management firm then joined hands with Coinbase global. However, this deal came amid increasing selling pressure in the market.
Asset management firm widens its holding
The BlackRock Coinbase opened a gateway for institutional crypto investors. The users who own digital assets on Coinbase can access Aladdin, the asset management suite. The investors can manage their portfolios and do the risk analysis.
In August, it launched a spot Bitcoin private trust which is available to US institutional clients. However, BlackRock’s European blockchain ETF carries a total expense ratio of 0.5%. While it has 35 holdings and is listed on Euronext.
However, the asset management firm’s biggest allocations are to Coinbase. The next big partner is trading company Galaxy Digital and Marathon Digital. Meanwhile, its list also includes Paypal, Nvidia and IBM.
- SEC’s Paul Atkins Pushes for On-Chain Capital Raising Without Uncertainty
- SEC Delays Decision On Staking For BlackRock’s Ethereum ETF
- SEC Delays Decision on Franklin Templeton’s Solana and XRP ETFs
- BNB Hits New ATH As Binance Partners With $1.6T Franklin Templeton
- Crypto Market, S&P 500 Rally as PPI Data Fuels Rate Cut Hopes
- Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
- SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
- Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
- Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
- Solana Price Prediction: Can Nasdaq Listing and $94M Holdings Propel SOL Toward $400?
