Massive Financial Giants Embrace Crypto: $27 Trillion Assets Under Management, Claims CoinShares Chief Strategy Officer

By Lola Coin Jun 27, 202360Views

, , , ,

Major financial institutions in the United States, including BlackRock, Fidelity, JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, Invesco, and Bank of America, are actively working to provide access to Bitcoin and other cryptocurrencies. This comes after BlackRock, the world’s largest asset manager, filed an application for a spot Bitcoin exchange-traded fund (ETF). The news sparked a wave of activity in the market, with the price of Bitcoin reaching a new high for the year before experiencing a slight correction. However, despite the interest from these institutions, the institutional march into Bitcoin is still in its early stages. The $27 trillion in assets managed by these institutions represents only a small portion that is expected to be invested in cryptocurrencies. Nonetheless, institutional interest in crypto has been growing, with the ProShares Bitcoin Strategy ETF experiencing a significant increase in capital inflows.

Continue reading on Cryptoglobe.com

Read Disclaimer

This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.