BlackRock reportedly eyes crypto trading services for its clients

Global asset management firm BlackRock is reportedly set to offer digital asset trading services to its investors through the Aladdin portfolio management system.

BlackRock, a global investment asset manager with over $10 trillion worth of assets under management, is reportedly readying itself for a dive into crypto trading services.

The company, CoinDesk reported on 9 February, plans to have the new service available via its Asset, Liability, Debt and Derivative Investment Network (Aladdin).

According to sources familiar with the matter, and cited by CoinDesk, investors in the asset manager will get access to the crypto trading offering as well as a collateralized borrowing facility.

While BlackRock is eyeing this service for its clients, the timing and potential achievement of the project do not come as a surprise.

BlackRock’s interest in crypto has seemed to grow rapidly since news that a fund managed by the firm had bought the CME Bitcoin futures product. That was in March last year and in June signaled further interest in the crypto space by advertising a blockchain expert position for the Aladdin service.

The company then took another step into the crypto ecosystem when it submitted an application for an exchange-traded fund (ETF) with US Securities and Exchange Commission (SEC).

According to the filing, the ETF index will track major blockchain technology companies across the US and across the world.