BlackRock tackles the cryptocurrencies market

By: Miguel A. Rodriguez

17:26, 06 April 2021

The asset manager revealed that it bought cryptos as of the end of January

After Visa announced that it would start accepting cryptocurrencies as payments, the world's largest asset management firm – BlackRock – revealed its interest in Bitcoin.

Following a March 31 SEC filing, the BlackRock Global Allocation fund had purchased Bitcoin worth $360,000.

The news came after BlackRock filed in January to include cash-settled Bitcoin futures as an investment option for two of its funds. Despite the previous interest in cryptocurrencies, it is still unclear whether BlackRock will continue its efforts with CME Bitcoin futures. BTC Peers: "Considering the hype around the digital asset, BlackRock may likely continue or even increase its exposure."

Moreover, Rick Rieder, BlackRock CIO, had stated in February the following: "My sense is the technology has evolved, and the regulation has evolved to the point where a number of people find it should be part of the portfolio, so that's what's driving the price up."

At the moment of writing, Bitcoin is trading at $60,355. Following the news, BlackRock stock jumped 1.71% higher.

Read more about Visa here!


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