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Blackrock Announces Intent to Invest in Crypto

BlackRock (NYSE:BLK), is considered to be the world’s largest asset manager with more than $5.4 trillion US dollars in assets under management.

According to recent reports in the Financial News the investment giant is now considering moving into the cryptocurrency investment space.

Back in February, senior BlackRock officials noted in their Global Weekly Commentary that the company believed that cryptocurrencies will have a broader role to play in the financial landscape in the future.

Now, individuals close to BlackRock  “has created a team from different parts of the business to investigate cryptocurrencies and their underlying infrastructure, blockchain”, and that this working group “will examine whether BlackRock should invest in bitcoin futures” as well as look “at what BlackRock’s competitors are doing with cryptocurrencies and how that could impact its business.”