The world’s largest investment management firm BlackRock’s Bitcoin Private Trust The Block will use the Kraken subsidiary CF Benchmarks Bitcoin Index to serve as a benchmark in issuance, reported.
BlackRock and Last Month’s Partnering with Coinbase Provide cryptocurrency trading services for institutional clients. The company also announced the launch the Bitcoin Private Trust, a Bitcoin Spot, just a few days later.
The product will seek to track Bitcoin’s performance and will bring fewer fees and debt to the trust company.
CF Benchmarks is a member both of the Crypto Facilities Group of Companies and the Payward Group, which includes owners and operators of cryptocurrency exchange Kraken Exchange.
BlackRock released a statement saying that despite the decline in digital asset markets, they still see strong interest from institutions about how to use our technology and product capabilities in order to access these assets efficiently and economically.
The firm manages more than $10 trillion in assets (AUM).
Sui Chung (CEO of CF Benchmark) noted that institutional interest has increased in the last few months compared with six months ago. She added that:
“The understanding of digital assets themselves is much greater than it was, people we talk to now understand the difference between bitcoin and ether.”
CF Benchmarks aspires to be the MSCI Index of the crypto-world.
The S&P Dow Jones Indices, a global leader in providing investable and benchmark indices to the financial launched index funds for cryptocurrencies in 2021.
BlackRock has been long focused on crypto, and the financial giant stated that its core focus remains in the sector. Permissioned BlockchainsTokenization, stablecoins and cryptoassets