The largest asset manager in the world, BlackRock (BLK), will base its new cryptocurrency offering on the bitcoin index from Kraken’s CF Benchmarks.
BlackRock partnered with crypto exchange Coinbase (COIN) last month in order to make bitcoin directly accessible to its institutional clients. A spot bitcoin private trust for institutional investors with US-based accounts was soon introduced by BlackRock.
“The launch of BlackRock’s bitcoin fund is a sign of how far crypto has matured as an asset-class,” said CF Benchmarks CEO Sui Chung. “As the provider of the robust high-integrity benchmarks that enable asset managers to properly value their financial products, CF Benchmarks is proud to have played this integral role in helping facilitate the entrance of new investors and capital into the still-nascent asset class.”
CF Benchmarks is a part of Payward Inc.’s “crypto facilities” group of businesses, which also includes owns and operates Kraken. In 2019, Kraken acquired Crypto Facilities for at least $100 million.
