BlackRock announces the launch of a new private spot Bitcoin trust
2022.08.13 02:05
BlackRock announces the launch of a new private spot Bitcoin trust
According to a blog post published on Thursday, BlackRock (NYSE:BLK) — the world’s largest asset manager, overseeing over $10 trillion in total assets — has launched a new private spot Bitcoin (BTC) trust. The fund is only available to U.S. institutional investors and seeks to track the performance of Bitcoin, less the expenses and liabilities of the trust. In explaining the decision, BlackRock said:
Private investment trusts that do not solicit investments from retail investors do not need to register with regulatory authorities in the United States. But others, such as the Grayscale Bitcoin Trust, can still become publicly traded — though not Securities and Exchange Commission-registered — on the over-the-counter markets.
