While mainstream media talks about the inevitable downfall of the whole crypto industry despite apparent signs of the opposite, we have other significant news to discuss. JPMorgan and BlackRock are two companies that continue expanding their crypto offerings even if their CEOs are talking about their doubts about the future of the domain.
BlackRock is a massive multinational investment company that operates in several countries and represents holders of large capital. Their trust management products are used by thousands of billionaires and institutions. In August, the company partnered with CoinBase, one of the biggest and most reliable crypto exchanges, to allow their clients to access the crypto market safely and with guarantees from both companies.
The new Bitcoin fund is a strong sign that some of the most influential experts in the world of finance believe that BTC is a mature class of financial instruments that should be employed in portfolios of large corporations and the richest people in the world. The fund is managed in partnership with CF Benchmark which is a subsidiary of the Kraken CEX.
CF Benchmarks provide an in-depth analysis of crypto and digital assets and makes sure that investors have a good understanding of investment opportunities associated with blockchain projects, tokens, NFTs, and other products offered by the crypto industry. The Bitcoin fund will be evaluated by this company and continues to provide fund managers with great insights into the intricacies of this financial market.
Large investment companies are abstaining from giving any commentaries and often take controversial positions regarding cryptocurrencies. Even the CFO of JPMorgan criticized many crypto assets and said that the industry needs regulation and more responsible CEOs. On the other hand, BlackRock’s representatives have been very careful in choosing what to say about Bitcoin, Ethereum, and other notable assets.
However, actions speak louder than words. With BLK moving to expand their crypto offerings with the new Bitcoin fund and other products based on crypto assets, we have a good understanding of what these companies think about the industry — they believe that crypto has strong chance to not only recover but reach new heights in the future.