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BlackRock Teams Up With Coinbase in Crypto Market Expansion (2)

Aug. 4, 2022, 5:22 PM UTC
Silla Brush
Silla Brush
Bloomberg News

BlackRock Inc. is partnering with Coinbase Global Inc. to make it easier for institutional investors to manage and trade Bitcoin, taking the world’s largest asset manager into a cryptocurrency market hammered by plunging prices and government investigations.

Coinbase surged 15% to $92.61 at 1:20 p.m. in New York. The partnership with BlackRock provides some relief for the biggest US crypto-trading platform, whose stock had lost more than two-thirds of its value this year through Wednesday.

Top BlackRock clients will be able to use its Aladdin investment-management system to oversee their exposure to Bitcoin along with other portfolio assets such as ...

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