As reported by Financial News, the world’s largest exchange traded Fund (ETF) BlackRock has announced the creation of a working group to assess the opportunities and prospects of working with bitcoin (BTC).
For BlackRock – it is a radical change of course, as earlier, the company took a skeptical point of view towards the cryptocurrency. Financial News, citing two sources familiar with the matter, said that the interdisciplinary group will examine the issue of investment in bitcoin futures.
Press Secretary BlackRock, said that the company “was watching the blockchain in a few years”, but she did not mention the term “cryptocurrency”.
We will remind that the General Director Goldman Sachs Lloyd Blankfein has repeatedly stated that bitcoin “is not for him.” However, subsequently set up a working group to study the possibilities of creating products based on cryptocurrency.
BlackRock may follow suit, despite the fact that its CEO Larry Fink has described bitcoin as “a tool that people use to launder money.”
In February this year, the company has already stated that they are actively looking at cryptocurrencies.
As of 2017 under management, BlackRock is not less than 6.3 trillion dollars.
Meanwhile, speculation about “the arrival of institutional money” continues. Over the weekend an trader expert CNBC Ran Neuner even suggested that institutional money will raise prices so high that a maximum of 2017 will seem warm. All that is needed, he said, is a modest surge in price.
Bitcoin jumped by about 4 percent immediately after the news about BlackRock, and is currently trading at $ 6,780.