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BlackRock Offers Bitcoin Investing to Big Institutional Clients

  • New trust seeks to track price of the biggest cryptocurrency
  • Asset manager ‘still seeing substantial interest’ from clients

BlackRock Inc. is offering its first-ever investment product directly in Bitcoin, marking a significant move into crypto markets by the world’s largest asset manager.

The new private Bitcoin trust seeks to track the price of the biggest cryptocurrency and responds to demand from large institutional clients seeking exposure to the asset even after its price plunged this year, New York-based BlackRock said in a statement Thursday.