BlackRock has launched a new investment product that provides U.S. institutional clients access to a spot Bitcoin private trust which will track the performance of Bitcoin, minus general expenses and liabilities of the trust according to a report issued by BlackRock.
BlackRock mentions that their clients are still showing signs of interest despite the significant downturn in Bitcoin's price and says that Bitcoin is the primary interest of their clients.
BlackRock is encouraged that organizations like RMI and Energy Web are creating initiatives to increase transparency in the use of sustainable energy for Bitcoin mining.
When it comes to digital assets, BlackRock has its efforts around four areas and their associated ecosystems where they believe there is a potential benefit for their clients. The areas of interest are, “stablecoins, crypto assets, tokenization, and permissioned blockchains.”
Recently BlackRock and Coinbase partnered to provide clients of Aladdin (a portfolio management software built by BlackRock), as well as Coinbase, exposure to Bitcoin through their partnership.