Suspicions that BlackRock is interested in the crypto-asset market have long been feverish among the public. Meanwhile, some facts have come to light that make us say not “if” but “when” it will take place.
BlackRock’s new offering?
BlackRock clients will get the opportunity to trade based on cryptocurrencies. It is to be done through the Aladdin platform. This is what one of the three anonymous sources, who probably works inside BlackRock, claims.
The anonymous source decided to reveal elements of internal findings and claims that BlackRock has decided to enter the cryptocurrency space . The company’s goal is to enable trading of virtual assets, while also providing its own credit system. In it, crypto assets would have the character of collateral when the customer takes a loan.
The investment giant also intends to allow its clients to trade Bitcoin and altcoins based on Aladdin (short for “Asset, Liability, Debt and Derivative Investment Network”). It is a platform that is an asset manager, available to the company’s clients. Public pension plans and wealth funds are also to be affected. The signal for this kind of change was already in place last June, when BlackRock was recruiting for the Aladdin Blockchain Strategy Manager position.
Other voices coming out of BlackRock indicate that the company is taking a very serious look at the market, as well as vendors in this space. This could indicate that a high-profile collaboration is coming up. The last of the sources reveals that there is a group of 20 people inside the company that is doing a deep review of the market. This group is looking at the current flow of capital into the virtual world and is working to open up avenues for the company to profit for both itself and its customers.
Lots of speculation, but market share so far indirect
BlackRock is the world’s largest equity management company. Its portfolio currently holds $10 trillion in institutional assets. It has long been touted as the potential largest investor in the cryptocurrency sector. Unfortunately, expectations have long fallen short. Meanwhile, BlackRock has taken an indirect interest in Bitcoin. It owns a 16.3% stake in MicroStrategy, managed by Michael Saylor. The company also has in its plans to launch the iShares Blockchain and Tech ETF, a fund that tracks an index consisting of companies involved in blockchain technology, both in the United States and abroad.