Just In – BlackRock Partners Coinbase Opening A New Gateway Fort Crypto Holders

Blackrock, the world’s largest asset manager is partnering Coinbase Global and it is welcome news for the crypto sector which is going through its most difficult phase since its existence. The latest partnership will open a new gateway for the crypto-investors.

Coinbase To Be Accessed By BlackRock clients

Blackrock’s clients who already have crypto assets on Coinbase exchange will now be able to assess Aladdin which is an asset management suite. It will enable the users to manage their portfolio and also able to analyze the risks associated with their investment decisions.

Additionally, Aladdin and BlackRock clients will have access to cryptocurrencies. However, at present they will be starting only with Bitcoin (BTC). The users can access via Coinbase prime services and the services offered will include reporting, trading, custody and prime brokerage.

We are proud to announce a partnership with @BlackRock. BlackRock’s Aladdin clients will now have direct access to crypto markets through Coinbase Prime.

Read more 👇https://t.co/LA3XeYYbvs

— Coinbase (@coinbase) August 4, 2022

As per Coinbase the client’s who will use the services include corporate treasuries, hedge funds, asset allocators, financial institutions and other major institutions.

Joseph Chalom, Head of Strategic ecosystem at BlackRock, added that there has been an upsurge in institutional clients’ interest in the digital assets market. The present focus of the company is to manage the assets in an efficient way. The latest development will enable the clients to manage their Bitcoin holdings directly.

BlackRock’s Aladdin has in excess of $17 trillion in assets under management and its clientele base is more than 200 and has a presence in more than 50 countries.

Coinbase Under SEC Radar

The latest development comes in between big SEC’s claim of insider trading and listing of tokens on Coinbase. The last few months have been very tough for Coinbase and the SEC sword is constantly hanging over the exchange.

Coinbase shares have plummeted in values as a fallout of the lawsuit. However, the values recovered after the slump and over Coinbase is changing hands at an average price of $110.6, at the press time.