by Rushali 
World’s largest asset management company, Blackrock is entering the bitcoins market. According to the news reports, they have filed prospectus documents to SEC on Wednesday, their two funds named Blackrock Asset Allocation Funds and Blackrock Funds Five are looking at bitcoins. They wanted to buy Bitcoins futures.
Everyone is thinking that it is a sudden move but no, on November 20 Blackrock’s CIO has said on CNBC that bitcoins are better investment than golds. And cryptocurrencies are the future of investing. He even said that digital currency will replace gold to some extent because of its easy transferability. By his statements, we can predict the market arc of bitcoins as he said that Millenials will invest in it.
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Then in December Blackrock’s CEO. Larry Fink has said at the Council on Foreign Relations that bitcoin could evolve to a global market asset and it has a direct impact on US Dollar.
So with these comments and the trend of many companies getting into the crypto market, we would not consider it a sudden event.
Last year ARK had an amazing year. They started with around 3 billion in management and ended with around 34 billion, there 5 out 6 ETF’s had triple-digit gains. And they were 5 in terms of fund flows.
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This year has also started with even the greatest numbers they have already crossed Blackrock in terms of ETF. And they are the first one who was interested in bitcoins and then everyone used to think them insane.
So, in this case, we can definitely consider cryptocurrencies the future of financial markets.
