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BLACKROCK

BlackRock Ready to Index Bitcoin (BTC) Prices

The asset management giant BlackRock is looking to use a Kraken subsidiary in its BTC offering index, shortly after its latest intervention in digital assets.

CF Benchmarks will strengthen asset manager’s BTC offerings

Reports of BlackRock and Kraken’s partnership with CF Benchmarks have surfaced. Reports indicate that the trillion dollar asset manager will use CF Benchmarks standards for BTC indices.

Sui Chong, CEO of CF Benchmarks, stated that BlackRock’s private BTC trust fund highlights the growth of Bitcoin. Chong’s comment reflects the realities of Bitcoin and cryptocurrency adoption.

BLACKROCK

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,

Chong said, speaking on the matter.

BlackRock’s interest in BTC grows

  CF Benchmarks prides itself on being one of the most trusted benchmarking providers in the cryptocurrency industry. The London-based firm’s benchmarks are trusted and used by a few key players, such as the Chicago Mercantile Exchange (CME) Group, the world’s largest derivatives market.

Released in 2017, CF Benchmarks has achieved enviable recognition. After its launch, the firm had only one product: the Bitcoin reference rate. CME became the first customer of the firm using the reference rate. The company has grown to serve companies in various countries globally. BlackRock is the latest client on this list.

RELATED : Here’s How To Benefit From ETHEREUM Merge: CoinGecko Co-Founder

BlackRock’s interest in BTC is growing. On August 4, the firm entered into a partnership with the American exchange Coinbase. The partnership will allow BlackRock’s institutional Aladdin customers to access Coinbase’s enterprise-targeted products, including Surveillance and trading.

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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