September 27, 2022

BlackRock, the world’s largest asset manager, is partnering with US cryptocurrency exchange giant Coinbase to offer digital asset exposure to institutional clients.

  • Coinbase announced the partnership in a suspension on Thursday (August 4, 2022). According to the statement, institutional clients of BlackRock’s investment management platform Aladdin (Investment Network for Assets, Liabilities, Debt and Derivatives) will be able to access crypto through Coinbase Prime.
  • Global Head of Strategic Ecosystem Partnerships at BlackRock, Joseph Chalom, said there has been increased interest in seeking exposure to digital assets from the firm’s institutional clients. Chalom added:

“This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly into their existing portfolio management and trading workflows for a comprehensive view of portfolio risk across all asset classes.”

  • Coinbase Prime will handle trading and custody services for Aladdin customers. For now, customers will have institutional exposure to bitcoin, while both parties will work together to introduce more features to interested customers.
  • As mentioned earlier by Hidden potatoBlackRock had earlier stated plans to launch cryptocurrency trading services.
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