World’s Biggest ETF Provider BlackRock With $6.3 Trillion Exploring Bitcoin | More Chances for ETF Approval...

Black Rock is a $6.3 Trillion US Dollar investment powerhouse. 25x bigger than the entire $crypto itself.

What is ETF

ETF stands for “exchange-traded fund” and describes a kind of investment fund where the price of assets like gold, stocks and oil can be tracked. These assets can then be traded on exchanges, just like conventional stocks. What this means is that investors have the option of buying and selling their holdings in this exchange-traded funds to other investors via the stock exchange.

BlackRock, Inc. — the world’s largest asset manager and exchange-traded fund (ETF) provider — is reportedly exploring opportunities to legally take part in the cryptocurrency market.

BlackRock offers investment services for Wall Street institutions, individual investors and foundations. BlackRock’s reputation as one of the most prestigious investment firms in the world, managing trillions in assets, means that any serious exploration into Bitcoin and cryptocurrency could signal a turning point in the new asset class by further legitimizing cryptocurrency and its underlying technology – blockchain.

The task force will also examine how its competitors are investing in the cryptocurrency industry and whether those ventures present a threat to BlackRock’s market share.

Nevertheless, Fink confirmed in a brief interview with Reuters that BlackRock had established a working group to explore bitcoin and other cryptocurrencies.

“We are a big student of blockchain,” Fink said, stressing that he doesn’t see “huge demand for cryptocurrencies” even though the firm has begun investigating them more closely.

Several analysts and Bitcoin supporters, such as TenX co-founder Julian Hosp and BitMEX CEO Arthur Hayes, believe the next Bitcoin bull run will be triggered by a significant event, such as a major player entering the space or the launch of a Bitcoin ETF.

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