BlackRock and Coinbase collaborate on bitcoin trading
Aladdin platform for institutional investors
Comeback for Bitcoin & Co.?
Coinbase and BlackRock Announce Bitcoin Trading for Professional Traders
The world’s largest asset manager BlackRock is now offering its clients entry into the crypto market. BlackRock’s Aladdin trading platform, which is aimed at institutional investors, now also wants to offer bitcoins for sale. This is made possible by a cooperation with the crypto exchange Coinbase. Crypto trading is to be simplified for BlackRock customers via an interface with their platform Coinbase Prime, which professional traders can use to buy and sell cryptocurrencies. To do this, however, they must be listed as users on both the Aladdin platform and Coinbase Prime, according to a statement from Coinbase. However, other cryptocurrencies are not said to be available yet.
There is demand for crypto assets
“Our institutional clients are increasingly interested in gaining exposure to the digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets,” said Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock Cooperation with the Crypto-Gree. It was not until spring that CEO Larry Fink explained in a shareholder letter that he had noticed an increased interest in digital currencies among his customers and was therefore examining how to enter the Bitcoin & Co. market.
Second chance for institutional investors?
Although the crypto market was already under significant pressure this year, which is due to the debacle surrounding Terra/LUNA, the now insolvent crypto lender Celsius and general uncertainty on the capital markets, digital currencies were very popular with institutional investors last year. At the beginning of last year, the electric car manufacturer Tesla announced that it had invested 1.5 billion US dollars in the crypto veteran. In the last presentation of the balance sheet, the group shared Elon Musk but with the fact that 75 percent of the Bitcoin stocks have now been separated. However, MicroStrategy boss Michael Saylor continues to appear in public as a bitcoin bull and keeps buying large quantities of the digital coins on behalf of the software provider.
Coinbase shares are temporarily up 18.12 percent in NASDAQ trading to $95.46. Meanwhile, BlackRock stocks are up 0.62 percent on the NYSE to $694.81.
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