Leading investment management company BlackRock revealed a spot Bitcoin private trust. The firm said it aims to offer clients different investment options.
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Currently, BlackRock's Bitcoin Trust is available to US institutional customers. The product seeks to follow the BTC price, reduced expenses, and liabilities of the trust.
BlackRock mentioned that despite the decline in the crypto industry, the company is seeing high interest from some institutions in ways to access crypto through BlackRock.
The asset manager said organizations focused on green energy solutions such as RMI and Energy Web are working on programs to allow more transparency to renewable energy usage in bitcoin mining, and will track the progress around these plans.
BlackRock added it has been working toward 4 areas of digital assets and related systems where they see potential benefits. These sectors are; permissioned blockchains, stablecoins, cryptocurrencies, and tokenization. Recently, BlackRock built a collaboration with Coinbase to enable customers to manage their bitcoin exposures and investments.