via Biphoo.com
Binance

BlackRock, the world’s largest asset manager with more than $6.3 trillion AUM, has reportedly set up a working group to explore the highly volatile cryptocurrency market.

According to a recent report by Financial News London that cites insiders familiar with the matter, the new team will consist of members from different divisions within BlackRock and will include multi-asset investment strategist Terry Simpson.

Insiders suggest the team will be investigating cryptocurrencies and their underlying blockchain technology, in addition to the current competitive landscape directly effecting BlackRock. Ultimately, the team aims to determine whether the firm should invest in bitcoin futures.

BlackRock CEO Larry Fink is on record stating that he is a “big believer” in cryptocurrencies, but that the current market today is primarily focused on speculation and is not an ideal opportunity for institutional investors.

While BlackRock is yet to confirm the accuracy of the report, a spokeswoman stated that the company had been “looking at blockchain technology for several years.”

More: BlackRock begins exploration of bitcoin
Related: Europe’s Largest ETF Trading Firm Moves Into Crypto

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager

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