BlackRock Launches Bitcoin Price Index…Details Here

BlackRock Launches Bitcoin Price Index…Details Here

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Answer BlackRock Launches Bitcoin Price Index…Details Here

BlackRock is the world’s largest asset manager.

Recently the company has moved to establish itself in the cryptocurrency industry.

Soon after its most recent operations in digital assets,

Asset management giant BlackRock is looking to tap a Kraken subsidiary in its Bitcoin offering index.

BlackRock and Provide Bitcoin Exposure to Enterprises:

Reports have emerged of a partnership between BlackRock and Kraken CF Benchmarks.

Reports indicate that asset manager BlackRock will use CF Benchmarks for its Bitcoin indices.

In general, BlackRock’s entry into the cryptocurrency space requires that you use a benchmark.

According to recent reports, the company has selected the Kraken subsidiary for this purpose.

Read:Poll: Over 70% of Crypto Investors Joined in 2021

Sui Chong, CEO of CF Benchmarks, noted that the BlackRock Bitcoin Trust is highlighting Bitcoin’s growth.

Chong’s comment reflects the reality of things regarding the adoption of bitcoin and cryptocurrencies.

Although the crypto winter appears to be continuing, the adoption of digital assets has increased in recent times as exposure to them has increased.

As a provider of strong, high-integrity standards that enable asset managers to properly evaluate their financial products, CF Benchmarks is proud to have played this essential role in helping facilitate the entry of new investors and capital into an emerging asset class that the company’s CEO commented.

While BlackRock has not commented on development yet.

BlackRock’s Growing Interest in Bitcoin:

In general, crypto asset indexing is an integral part of digital asset products.

CF Benchmarks is proud to be one of the most reliable benchmarking providers in the cryptocurrency industry.

The London-based company’s standards are trusted and used by several major players such as the “Chicago Mercantile Exchange (CME) Group” the latter being the largest derivatives market in the world.

Read:Soon you will be able to use XRP at more than 3.3 million stores around the world

Launched in 2017, CF standards have grown to become hugely mainstream.

Read:Ripple Co-Founder: Bitcoin Must Switch to Proof of Stake to Stay ahead

Institutional interest in Bitcoin:

BlackRock and other institutions are increasingly interested in bitcoin.

On August 4, the company entered into a partnership with US trading platform Coinbase. The partnership will allow BlackRock’s institutional Aladdin customers to access enterprise-targeted Coinbase products, including custody and trading.

A week later, the asset manager launched his own bitcoin fund.

The investment product will provide BlackRock customers with direct access to the premier cryptocurrency.

Now, BlackRock will use CF standards to index its bitcoin products.

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