An opportunity that BlackRock has now also identified, as witnessed by them collaboration with Coinbase. The partnership announced this week has boosted Coinbase stock by 52 percent in the last 5 days alone. That immediately shows how much power BlackRock has within the financial world. Parties like BlackRock have the ability to make or break players within an industry.
The partnership between BlackRock and Coinbase
The idea of the partnership between BlackRock and Coinbase is to make it easier for institutional investors to invest in crypto. In recent years, Coinbase has played a pivotal role in “making the industry safer” by establishing itself as a trusted player in the market. We have now reached the point where parties such as BlackRock also consider the market mature enough to expose their customer base to it.
Coinbase and BlackRock have teamed up to provide Aladdin, BlackRock’s end-to-end investment platform for institutional clients, with direct access to the crypto market. Initially, they only start with Bitcoin. With which BlackRock also seems to indicate that they currently only consider Bitcoin a “responsible” investment. This of course does not alter the fact that other currencies may be added in the future.
