in

Bitcoin (BTC): Will Central Banks Finally Give Up?

Bitcoin (BTC): Will Central Banks Finally Give Up?

After going through many difficulties, including bans by some states and the sharp drop in its price, bitcoin (BTC) could experience a revival marked by a big jump of institutional investors, especially central banks as investors. This was made possible thanks to a private BTC-focused trust from BlackRock.

Blackrock, the gateway to bitcoin for central banks

In a publication made on a twitter account, Digital Currency Group founder Barry Silbert points out that BlackRock’s BTC-focused private trust provides a way for central banks (who now have an easy and safe way) to invest in the crypto flagship. This trust was introduced on August 11, 2022, to allow institutional investors in the manager to take advantage of the windfall that crypto can offer, explains BlackRock.

“Despite the sharp decline in the digital asset market, we are still seeing significant interest from some institutional clients in how to effectively and cost-effectively access these assets using our technology and product capabilities.”explained BlackRock to justify the decision to sign the trust.

For information, BlackRock, the world’s largest asset manager, manages nearly $9 trillion in assets for institutional clients, including central banks.

At the beginning of August, the asset manager had already formalized cooperation with Coinbase, with the aim of allowing its institutional clients in the United States to make transactions in BTC, through Coinbase Prime.

According to Barry Silbert, central banks could soon start investing in Bitcoin, thanks to a facility set up by BlackRock for institutional clients, which, during its run, is becoming one of the most important partners in efforts to democratize BTC and digital assets in general. Overall, this solution could ultimately speed up cryptocurrency regulation and/or more crypto adoption around the world.

Get a summary of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

Writing Avatar CT

Write CT

Behind the generic signature “Redaction CT” are young journalists and authors with specific profiles who wish to remain anonymous because they are connected to the ecosystem and have certain obligations.

If I got a loan to buy bitcoin (BTC)?  School case

If I got a loan to buy bitcoin (BTC)? School case

Ethereum (ETH): September 15, the D-Day of the Merger?

Ethereum (ETH): September 15, the D-Day of the Merger?