BlackRock, World's Largest Asset Manager Enters Bitcoin's Institutional Craze

With more than $8.68 trillion in assets under management, BlackRock is the world’s largest asset manager and has just filed papers to allow two of its funds to trade Bitcoin futures.

The world’s largest asset manager BlackRock, with a reported $8.68 trillion under management is adding cash-settled Bitcoin futures as an eligible investment to two of its funds according to filings with the US Security and Exchange Commissions (SEC).

BlackRock clients will now be able to trade bitcoin derivatives, among other assets, under the BlackRock Strategic Income Opportunities and the BlackRock Global Allocation Fund.

The move by BlackRock is significant for Bitcoin (BTC) and crypto as an industry since it is the first time that the world’s largest asset manager allows exposure to cryptocurrencies for their clients.

BlackRock entering the Bitcoin market doesn’t come as a surprise and is part of the ongoing and mounting craze driven by institutional players to get exposure to Bitcoin as a hedge against an inflating dollar and unrelenting money printing by The Fed and the world’s central banks.

BlackRock CEO Larry Fink hinted at the firm’s future plans in December 2020 when he stated that Bitcoin as the world’s most popular cryptocurrency is seeing giant gains on a daily basis and could possibly unfold into a global market.

VanEck Files For Digital Asset ETF

Another major investment and asset manager firm, US-based VanEck, has filed for a Digital Asset Exchange-Traded Fund (ETF) with the SEC on January 22. If approved, VanEck’s ETF would enable institutional investors to gain exposure to shares in companies who heavily rely their business on cryptocurrencies.

The ETF would track the performance of crypto exchanges, payment processors, crypto mining companies as well as public companies holding cryptocurrencies in their balance sheet, including Michael Saylor’s Microstrategy. VanEck is well known for their ambitious Bitcoin ETF filings, the last one being filed last month.

MicroStrategy Announces Another Bitcoin Purchase

Speaking of the Business Intelligence firm MicroStrategy and their enigmatic CEO Michael Saylor, who has emerged over the second half of 2020 as one of the most prominent Bitcoin advocates and investors on the planet, the firm once more announced a large BTC purchase on January 22.

MicroStrategy confirmed today, Friday that the firm purchased 314 BTC for a value of $10 million, bring its total Bitcoin reserves to an accumulated 70,784 BTC, or $2.3 billion in today’s value.

Interesting to note that yesterday Bitcoin dipped as far down as $28,900 before reversing and now trading around $32,000. This bounce happened after MicroStrategy’s proclamation of 314 BTC purchase, clearly demonstrating that institutions are buying the Bitcoin dip.

The mounting institutional craze to get exposure to Bitcoin is only growing, and for good reasons. Bitcoin is in my humble opinion the most sound money created to date, a fair monetary system that gives people anywhere in the world ownership of their funds, ensures privacy while enabling the ability to store value over time without a central authority. Satoshi Nakamoto ought to be proud given how far Bitcoin has come in only 12 years since its creation.

Bitcoin in Klever

Bitcoin is a central cornerstone in the Klever app and of the Klever ecosystem, functioning as a key trading pair in Klever Swap with over 40 different coins and tokens. Moreover, the total amount of Bitcoin held by Klever’s global users in the Klever wallet ecosystem amounts to over 70,000 BTC, interestingly matching the amount of BTC held by MicroStrategy.


Misha Lederman

Director of Communications at Klever

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