BlackRock officially authorizes itself to invest in bitcoin

Posted on Jan 22, 2021 at 7:38 am

After months of questioning BlackRock’s strategy in cryptocurrencies, there is no longer any room for doubt. The world’s leading asset manager has included bitcoin derivatives in the list of eligible assets for two of its investment funds. The information appears in an updated prospectus for these products, registered Wednesday with the SEC, the US regulator of financial markets.

The initiative appears to be the first practical variation of BlackRock’s growing interest in cryptocurrencies. A few weeks ago, a job offer from the group for the recruitment of a new specialist in blockchain technology had panicked the crypto planet. At the end of 2020, Larry Fink, the boss of BlackRock, had also noted the growing weight of bitcoin and its interest as an alternative currency to the dollar … despite its speculative nature. After crossing the $ 40,000 mark at the start of the month, the queen of cryptocurrencies was trading around $ 31,000 on Thursday.

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