BlackRock has announced the launch of a spot bitcoin private trust, deepening a push into digital assets as the crypto industry is recovering from the fallout of a credit crisis.
The world’s largest asset manager said in a blog post on Thursday that the private trust would be available only to institutional clients in the US, but gave few other details.
US regulators have repeatedly rejected proposals to offer spot bitcoin exchange traded funds that would be open to retail investors, citing the need for investor protections.
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