If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
Posted on 02/10/2022 10:44:44 AM PST by aMorePerfectUnion
The world’s largest asset manager, BlackRock, is reportedly planning to offer a bitcoin trading service to its investor clients, three people familiar with the matter told CoinDesk.
BlackRock entering the Bitcoin space by offering investment products to its clients could represent a watershed moment to the digital currency given that the New York-based firm manages over $10 trillion in assets for institutional investors.
One of the people reportedly said the asset manager would let its clients get access to loans by putting up cryptocurrency as collateral with “client support trading and then with their own credit facility.”
BlackRock’s over 1,500 institutional clients – which include corporate and public pensions, endowments and foundations, and sovereign wealth funds – would be able to trade bitcoin through the asset manager’s integrated investment software, Aladdin, one of the people reportedly said.
A second person familiar with the matter reportedly said that BlackRock was interested in getting “hands-on with outright crypto” and was “looking at providers in the space.”
A third person reportedly commented that there is a working group of “approximately 20 or so” evaluating bitcoin and cryptocurrency inside BlackRock. “They see all the flow that everyone else is getting and want to start making some money from this,” the person added.
BlackRock’s chief executive officer Larry Fink said in May of last year that the asset manager was studying bitcoin to determine whether it could offer countercyclical benefits, according to a Reuters report. The executive also said that cryptocurrencies could potentially play a role in long-term investing as an asset class similar to gold.
In 2021, the asset manager tiptoed into bitcoin investing through derivatives-based products traded on the Chicago Mercantile Exchange (CME), according to a filing with the U.S. Securities and Exchange Commission (SEC).
Last month, BlackRock filed with the SEC to offer an exchange-traded fund that would invest in companies involved in the “development, innovation, and utilization of blockchain and crypto technologies,” reported Bloomberg.
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
World’s Largest Asset Manager plans to offer crypto trading to their clients...
likely significant, since Blackrock has been deemed too big to fail by the Fed.
The Fed Is Subsidizing the Money Market Funds Operated by Larry Fink’s BlackRock as BlackRock Manages a Big Part of Jerome Powell’s Wealth
This will offer a huge benefit to the stock market if this is approved. There are many drug dealers, arms merchants, human traffickers, and tax havens that have a serious problem laundering currency and this provides a very convenient platform to achieve their investment goals.
Buy stocks and bonds with BitCoin then sell them for dollars in a couple days with a small loss to avoid capital gains reporting. Voila, instantly clean cash. What could go wrong?
Bookies. They dont care who wins or loses as long as lots of bets are placed and they get their skim of the action.
I don’t trust anything that Larry Fink or Blackrock do.
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