SCOOP: Asset manager BlackRock is working to stand up a crypto trading wing for its institutional clients, three sources tell CoinDesk. IanAllison123 reports
BlackRock headquarters in New York
BlackRock, the world’s largest asset manager, is preparing to offer a cryptocurrency trading service to its investor clients, according to three people with knowledge of the plans.for institutions, plans to enter the cryptocurrency space with “client support trading and then with their own credit facility,” one of the people said. In other words, clients would be able to borrow from BlackRock by pledging crypto assets as collateral.
One of the people said BlackRock will allow its clients – which include public pension schemes, endowments and sovereign wealth funds – to trade cryptocurrency through , the asset manager’s integrated investment management platform. The timetable for unveiling the service is unclear.The asset manager may have been telegraphing its intentions as early as June when it began hiring for an