Asset manager BlackRock will use the Bitcoin (BTC) index of Kraken subsidiary CF Benchmarks.
Last month, the company teamed up with Coinbase, another US-based crypto exchange, to make Bitcoin directly available to institutional customers.
New Step For BlackRock
BlackRock, the world’s largest asset manager, has often been on the agenda with the deals it has made. The company will provide corporate users with direct access to Bitcoin in its new service. The company will use the Bitcoin index of CF Benchmarks, a subsidiary of the Kraken exchange, in this service.
CF Benchmark CEO Sui Chung said in a statement on the subject:
“The launch of BlackRock’s Bitcoin fund is a sign of how mature crypto is as an asset class”
Chung continued:
“As a provider of robust, high-integrity benchmarks that enable asset managers to appropriately value their financial products, CF Benchmarks is proud to play this integral role in helping facilitate the entry of new investors and capital into the emerging asset class.”
Additionally, BlackRock announced last month that it is partnering with Coinbase to build trust in Bitcoin at the institutional level. This move allows investors to buy, sell and store Bitcoin on BlackRock via Coinbase Prime.
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