Happy Wednesday, Blockfolians
It’s been the story since last May. A big, storied firm — one that just a few short years ago never would have even looked at Bitcoin — announces that its getting in the game.
The latest institutional domino to fall is the world’s biggest asset manager Blackrock. Blackrock has approximately $7.81 TRILLION in assets under management. For the last few months, Blackrock has been giving some positive verbal indications towards bitcoin in interviews with leadership on CNBC, etc.
Today, however, we learned that two of their funds have filed with the SEC to be allowed to buy bitcoin futures.
The filings don’t assure us that they will buy bitcoin, or who they’ll use to do it, or at what scale. But it’s still a remarkable moment in showing just how far the industry has come in terms of legitimacy with the world’s biggest financial players.
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Highly Relevant Reading
Coinbase acquires Bison Trails to compete on infrastructure-as-a-service
Tether, Bitfinex “almost done” sharing documents with NYAG
Here comes a new euro-pegged stablecoin from Celo
Trump pardons Ripple board member Ken Kurson
Soulja Boy was all up in crypto Twitter’s business last night…and it was actually pretty productive
The “crypto is used for crimes” narrative just doesn’t hold much weight anymore.
A Really Big Number We Should Be Paying Attention To
That’s the latest ETH price target from Fundstrat