BlackRock is an investment company that offers its services to institutions, intermediaries, foundations, and individual investors.
BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with $7.4 trillion in assets under management as of end-Q4 2019. BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries. Due to its power, and the sheer size and scope of its financial assets and activities, BlackRock has been called the world’s largest shadow bank.
The total net inflows into BlackRock’s IBIT fund surpassed the $40 billion mark as the crypto market sees increased optimism.
Global cryptocurrency exchange-traded products (ETPs) saw $2.9 billion in outflows last week led by Bitcoin, totaling over $3.8 billion across three weeks.
BlackRock has expanded its crypto exposure by adding its iShares Bitcoin Trust (IBIT) to portfolio strategies that allow alternative investments, allocating 1-2% to Target Allocation models.