Media: BlackRock to launch digital asset trading service

The international investment firm BlackRock, with assets under management of $10 trillion, will add the ability to trade cryptocurrencies. This was reported by CoinDesk citing knowledgeable sources.

The service will be integrated into the portfolio management system Aladdin. The firm also plans to add a lending service secured by digital assets. Timelines for the new options were not disclosed.

In June 2021, the company began looking for a head of blockchain strategy for the platform and developers in the field of DLT. The job description mentioned for the latter included “creating and implementing API, evaluating and auditing external contracts and developing our own smart contracts.”

According to one source, to date the team has grown to around 20 specialists.

Earlier, in January, iShares filed an application with SEC to launch ETF based on the NYSE FactSet Global Blockchain Technologies Index.

In November 2021, BlackRock excluded launching its own crypto-ETF in the near term.

In February, the firm’s Chief Investment Officer Rick Rieder said that the funds under management have begun ‘gradually engage’ in cryptocurrencies. Subsequently, it emerged that they held positions in Bitcoin futures.

Earlier, BlackRock CEO Larry Fink said there was minimal client interest in digital assets.

Subscribe to ForkLog news on Telegram: ForkLog Feed — all the news feed, ForkLog — the most important news, infographics and opinions