BlackRock enters into partnership with Coinbase crypto exchange

The investment company plans to promote digital assets among institutional clients

04.08.2022 - 16:30

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What’s new? BlackRock, an investment company, has announced a partnership with the Coinbase crypto exchange. As part of the partnership, BlackRock institutional investors who use the Aladdin crypto platform will have direct access to digital assets. For now, the partnership only covers bitcoin. According to a BlackRock spokesperson, client demand will determine whether other digital assets will be available in the future.

Coinbase’s blog post

What else is known about the partnership? With Coinbase Prime, a paid extension for institutional clients, BlackRock clients will be able to trade and store cryptocurrency, receive brokerage services and additional reports and analytics.

“Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets,” noted Joseph Chalom, Global Head of Strategic Ecosystem Partnerships.

BlackRock is one of the world’s largest asset and investment management companies. It also provides risk management and advisory services. As of January 2022, it had $10 trillion in assets under management. The company’s shares are traded on the New York Stock Exchange (NYSE) under the ticker BLK. As of August 4, 15:05 UTC, the share price is $694,36, up by 0,58% per day.

Earlier, Coinbase added an Ethereum staking feature for US institutional investors through its Coinbase Prime subscription. The exchange’s customers can create a wallet and initiate staking from the ETH asset page in their account.

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