BlackRock Launches Crypto ETF In Europe Amid Regulatory Concerns
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Answer BlackRock Launches Crypto ETF In Europe Amid Regulatory Concerns
BlackRock, the world’s largest asset management company, has maintained its stance of increasing its cryptocurrency-related services.
The asset management company has launched a new exchange-traded fund (ETF) for European cryptocurrency users.
BlackRock Explores Crypto Options:
According for reportsBlackRock has added the iShares Blockchain Technology UCITS ETF to its portfolio.
This service will allow European users to use the same ETF features as US users.
However, the move by the asset manager came amid increasing uncertainty in the cryptocurrency market.
The global crypto market has been declining over the past few months.
It fell below the critical $1 trillion level.
Read:The Bank of England decides to act in an emergency and announces the continuation of quantitative easing… What impact will this have on the crypto market?
The price of Bitcoin, the world’s largest cryptocurrency, has fallen by 6% over the past 30 days.
Omar Mufti, Product Strategist at BlackRock ETFs, stated that they believe that blockchain technology and digital assets will become more user friendly.
BlackRock is slowly increasing its exposure to the digital asset market.
BlackRock first launched an ETF focused on blockchain technology in the US in the first quarter of 2022.
The asset management firm then joined Coinbase Global, and this transaction coincided with increasing selling pressure in the market.
The asset management firm expands its grip on the crypto arena:
BlackRock Coinbase has opened the crypto portal to institutional investors.
Users who own cryptocurrencies on Coinbase can access the Aladdin Asset Management suite.
Investors can manage their portfolios and perform risk analysis.
Read:Cryptocurrency exchange FTX beats Binance to acquire Voyager digital assets
In August, BlackRock launched a special Bitcoin ETF available to US institutions.
However, BlackRock’s European ETF carries an overall expense ratio of 0.5%.
While it has 35 holdings and is listed on the Euronext stock exchange.
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