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BlackRock, Fresh off Coinbase Tie-Up, Offers Direct Bitcoin Exposure
The institutional-investor-focused spot bitcoin private trust will track the price of the cryptocurrency.
By Brandy Betz
Updated May 11, 2023, 4:22 p.m. Published Aug 11, 2022, 1:33 p.m.
One week after announcing a partnership with crypto exchange Coinbase (COIN), BlackRock (BLK), the world’s largest asset manager, has launched a spot private trust for U.S.-based institutional investors
- The trust, BlackRock’s first to offer direct exposure to bitcoin, seeks to track the performance of the largest cryptocurrency by market value.
- “Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities,” the BlackRock team said in a website post.
- BlackRock said the firm has conducted work in four areas of digital assets and their ecosystems that could benefit the firm’s clients and broader capital markets: permissioned blockchains, stablecoins, crypto assets and tokenization.
- In March, CEO Larry Fink said the firm was exploring ways to offer digital assets to its clients, confirming that institutional investors remained interested in the crypto industry even as the bear market emerged.
- Last week, BlackRock and Coinbase announced that mutual institutional customers would have access to digital assets through BlackRock’s Aladdin portfolio management software, starting with bitcoin.
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Read more: How Are Institutions and Companies Investing in Crypto?
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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