BlackRock forms partnership with Kraken subsidiary to incorporate Bitcoin price index.
- black rock pattern alliance with CF Benchmarks
- CF Benchmarks is a subsidiary of the exchange kraken
- With this, black rock will implement the price index Bitcoin of CF Benchmarks
- Previously black rock established an alliance with coinbase
The US company listed as the world’s largest fund manager, blackrock, you intend to use one of the products of CF Benchmarks, company associated with the international exchange kraken, which will be used for its new offering in the digital currency space.
black rock allies with a subsidiary of kraken
According to various reports published today, the tool in question will be the price index Bitcoin of CF Benchmarks, which provides information on the price of the main digital currency in real time, provided with very reliable data to offer the greatest possible reliability to interested entities.
In relation to this association, the CEO of CF Benchmarks, Sui Chung commented:
“The launch of BlackRock’s Bitcoin Fund is a sign of how much crypto has matured as an asset class. As a provider of robust, high-integrity benchmarks that enable asset managers to properly price their financial products, CF Benchmarks is proud to have played this integral role in helping to facilitate entry for new investors, as well as helping the entry of a greater amount of capital to this type of assets whose market is still quite small”.
As such, CF Benchmarks belongs to the group of companies Crypto Facilities, member of PGoodbye Inc., which owns and operates the US-based international exchange, kraken.
Since 2019, kraken listed as the owner of Crypto Facilities after finalizing a purchase agreement for about USD $100 million.
black rock and cryptocurrencies
As to blackrock, The company is listed as the world’s largest asset manager, managing some $10 billion of its clients’ assets.
The announcement comes into place after black rock announced an alliance with coinbase to ensure that their clients have access to Bitcoin funds. Subsequently, the company announced the launch of a private BTC trust, especially aimed at US-based institutional clients.
For many, these steps that you have been taking are a very good sign. blackrock, precisely because it could be a very good channel for capital to enter the market for the main digital currency. Let’s keep in mind that in the US the regulatory landscape still poses many challenges, so institutional and large-scale investors still have reservations about entering the cryptocurrency market, which would be much easier if they had the support of an entity with great experience in the capital management sector.
On the other hand, these announcements come in the midst of a particularly complex moment for the digital currency market, which is going through what many analysts call “crypto winter” and is characterized by a drop in the price of Bitcoin. and the main exponents.
At the time of publication, the price of Bitcoin is trading at about USD $19,874 per unit, maintaining prices very similar to those seen yesterday at this same time.
Article by Angel Di Matteo / DailyBitcoin
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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.