CoinDesk says that: 'world's largest asset manager to launch crypto trading' according to anonymous sources

BlackRock, the world's largest asset manager, is going to offer trading in crypto. This is what CoinDesk reports based on three anonymous sources. If this news is really true, this is huge for crypto adoption.

The asset management company Blackrock is an American company based in New York. They manage over $10 trillion in assets for institutions. To make this amount a little tangible; this is $10,000 billion. This is roughly equivalent to 8,750,000,000,000 euros.

Anonymous sources

Blackrock plans to enter the cryptocurrency space with "client support trading and then with their own credit facility," one of the people told Coindesk. Clients can borrow from the asset manager by using crypto as collateral.

'One of the people said BlackRock will allow its clients - including government pension plans, endowments and sovereign wealth funds - to trade cryptocurrency through Aladdin (short for "Asset, Liability, Debt and Derivative Investment Network"), the asset manager's integrated investment management platform. 'The timetable for the service's unveiling is unclear,' Coindesk said in the news release.

Already working on crypto for some time

That Blackrock is interested in digital assets has been known for some time. Larry Fink, the CEO of BlackRock, said in an interview in April that cryptocurrency could become a great asset class.

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In addition, the company also invested in crypto last year through Chicago Mercantile Exchange (CME) futures. Although this was only a fraction of Blackrock's entire assets. At the time, they were in the management of 8.7 trillion dollars (7.6 trillion euros), and the amount they invested in these contracts was 360 thousand dollars. This was reflected in the documents they filed with the Securities and Exchange Commission (SEC).

BlackRock also owns 16.3% of MicroStrategy, which will also continue investing in bitcoin in 2022.