Blackrock starts offering crypto assets for 200 institutions through Coinbase Prime
Bloomberg • November 08, 2022
Traditional asset management giant BlackRock, with an AUM of $8.5 trillion, has announced a partnership with Coinbase Prime to offer broader access to institutional investors. Mutual customers of both Coinbase and BlackRocks investment management platform Aladdin, will gain access to trading, prime brokerage and reporting capabilities.
Joseph Chalem, head of strategic ecosystem partnerships at BlackRock described the move as driven by institutional demand:
Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets.
Aladdin has over 200 institutional users, such as insurance companies, pensions, corporations, asset managers, banks, and other official institutions. The partnership with Coinbase Prime, to seamlessly offer crypto options on their platform to their current clients marks another step into enterprise and institutional adoption of crypto as a new alternative asset class.