BlackRock Will Use Subsidiary Of Kraken For Crypto Offering

The biggest asset manager in the world, BlackRock (BLK), will base its new cryptocurrency offering on the Kraken bitcoin index from CF Benchmarks.

U.S.-based accounts was soon introduced by BlackRock

BlackRock and Coinbase (COIN), another cryptocurrency exchange, partnered last month to make bitcoin directly accessible to its institutional clients. A spot bitcoin private trust for institutional investors with U.S.-based accounts was soon introduced by BlackRock.

“The launch of BlackRock’s bitcoin fund is a sign of how far crypto has matured as an asset-class” CF Benchmarks CEO Sui Chung.

“As the provider of the robust high-integrity benchmarks that enable asset managers to properly value their financial products, CF Benchmarks is proud to have played this integral role in helping facilitate the entrance of new investors and capital into the still-nascent asset class” he added.

CF Benchmarks is a part of Payward Inc.’s “crypto facilities” collection of businesses, which also includes Kraken’s owner and operator. In 2019, Kraken acquired Crypto Facilities for at least $100 million.

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