So, by now, I’m sure that ALL crypto enthusiasts around the world have done their research accurately enough to understand that Blackrock, “the investment firm itself”, does NOT hold ANY crypto currency at all… The main reason for their partnership with Coinbase was to secure a method of leveraging Bitcoin that is HELD under Coinbase costody.
Again… Another interesting little detail is the fact that ALL transactions were done OFF chain… meaning there are no wallets that can be verified, no addresses that can be pin pointed, nothing. Some may say that, of course it was done off chain because of the SEC but mind you, the SEC did not make the purchase of crypto by ANY company, illegal… SAB 121, the document that was repealed, recently, ONLY stated that companies and banks that hold crypto on their portfolio needed to have set asset on their balance sheets as well (SAB 121 is available on the SEC website).
So why would the world’s largest asset manager require a secondary party to hold its cryptocurrency under custody?
