By William Suberg
The world’s largest exchange-traded fund (ETF) provider BlackRock announced the formation of a working group to assess potential involvement in Bitcoin (BTC), Financial News (FN) reports today, July 16.
The move furthers a U-turn on BlackRock’s previously critical stance towards cryptocurrency. Following in the footsteps of fellow giant Goldman Sachs, the cross-industry working group convened by BlackRock will among other things focus on whether the company should invest in Bitcoin futures, FN reports, citing “two people familiar with the matter.”
Experts will be examining competitor moves, the publication paraphrases sources as revealing, indicating Goldman’s U-turn on its previously bearish stance had not gone unnoticed.