BlackRock Has Launched A New Private Spot Bitcoin Trust

BlackRock, the world's largest asset manager with over $10 trillion in total assets, announced the launch of a new private spot Bitcoin (BTC) trust in a blog post published on Thursday.

The fund is only available to institutional investors in the United States and aims to track the performance of Bitcoin after deducting the trust's expenses and liabilities.

"Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities," BlackRock explained.

Bitcoin is the oldest, largest, and most liquid digital asset, and it is currently the primary topic of interest for our clients in the digital asset space."

Private investment trusts that do not solicit investments from retail investors are not required to register with US regulatory authorities.

Others, however, such as the Grayscale Bitcoin Trust, can still become publicly traded on the over-the-counter markets despite not being Securities and Exchange Commission-registered.

Excluding stablecoins, Bitcoin accounts for nearly half of the industry's market capitalization.

Concerning the blockchain's energy consumption, BlackRock stated that it is encouraged by organizations such as RMI and Energy Web, which are developing programs to increase transparency in the use of sustainable energy in Bitcoin mining.

BlackRock announced a partnership with cryptocurrency exchange Coinbase last week to provide its clients with direct access to cryptocurrency, beginning with Bitcoin.

When they sign up for Coinbase Prime, users of BlackRock's institutional investment management platform, Aladdin, will gain access to crypto trading, custody, prime brokerage, and reporting capabilities.

On a broader level, BlackRock stated that it has been conducting research in four areas of digital assets and their associated ecosystems: permission blockchains, stablecoins, crypto assets, and tokenization.

Comments

Hackers from North Korea are stealing NFTs using almost 500 different phishing domains.

The cybercriminals established dummy websites that posed as legitimate NFT marketplaces, NFT projects, and even a DeFi platform. There have been reports that hackers with ties to North Korea's Lazarus Group are behind a massive phishing campaign aimed at investors in nonfungible tokens (NFTs). This campaign is said to have used nearly 500 phishing domains to trick victims. SlowMist, a blockchain security company, published a report on December 24 revealing the strategies that North Korean Advanced Persistent Threat (APT) groups have used to separate NFT investors from their NFTs. These strategies include the use of decoy websites that are disguised as a variety of different NFT-related platforms and projects. Some examples of these fake websites include a website that pretends to be a project associated with the World Cup, as well as websites that impersonate well-known NFT marketplaces like OpenSea, X2Y2, and Rarible. Another example of one of these fake websites is a website th...

Musk presents "Optimus" at Tesla's AI Day.

Tesla CEO Elon Musk unveils "Optimus" at "AI Day" on Friday. A robot-based business would be worth more than a car-based business, the billionaire said. He wants to move beyond self-driving cars, which he has repeatedly promised. Onstage, a robot model waved to the audience. In the automaker's factory, a video showed the robot moving metal bars and watering plants. "Our goal is to make a useful humanoid robot as soon as possible," Musk said. "Optimus needs a lot of work to be effective." Musk said humanoid robots "lack a brain" because they can't travel the world independently. He also said they're expensive and rare. Optimus would be mass-produced in the millions and cost less than $20,000, he said. Musk expected to discuss Tesla's self-driving car technology. In May, the CEO said the world's most valuable car company would be "worthless" without self-driving cars. The company faces regulatory and techno...

Unlocking Financial Growth, Finance, and Inequality

In this comprehensive article, we explore the intricate relationship between economic growth, finance, and inequality. Our aim is to provide a deep understanding of these interconnected elements, enabling you to navigate the complexities of the global economic landscape. This article will serve as a valuable resource for individuals and businesses seeking insights and strategies to thrive in an ever-evolving financial world. Economic Growth: The Engine of Prosperity Economic growth is the cornerstone of a prosperous society. It represents the increase in a country's overall output of goods and services over time. This growth fuels job creation, boosts living standards, and promotes technological advancements, ultimately enhancing the quality of life for its citizens. Factors Driving Economic Growth Investment in Infrastructure: Adequate infrastructure, such as transportation networks, energy systems, and communication technologies, lays the foundation for sustained economic growth....

Meta Financies

Search This Blog