Institutions believe in bitcoin more than ever

BlackRock would rely on the company Coinbase, with which it has already been working for two years, for the “custody” part of the funds. Erik McGregor/Sipa USA via Reuters Connect

behind the High-profile Binance setbacks and other major crypto-et exchange platforms, a more discreet, but much more structuring revolution is looming for the future of bitcoin. BlackRock, the world’s largest et manager (9000 billion dollars in ets at the end of March), has just filed a file with the Securities and Exchange Commission (SEC) to market a financial product that is similar to a listed index fund (Exchange Traded fund, ETF), pegged to bitcoin.

These funds attempt to track the performance of a specific et or stock index as closely as possible, to gain exposure to different markets. If permitted, such a product would allow BlackRock customers to easily invest in cryptocurrency without having to hold it directly.

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In view of BlackRock’s weight in the financial sector, a green light from the American stock market policeman would pave the way for a much larger crypto market, through a product…