These two financial institutions are preparing for the next Crypto Bull Run
It’s no secret that Bitcoin, Ethereum and most other major cryptocurrencies are trading well below their all-time highs. That’s why the phrase “crypto winter” has become a top discussion among investors.
While a bear market has scared away many individual investors and financial institutions, others are now laying the groundwork for the next bull run.
Two of the world’s largest and most respected financial institutions – BlackRock Inc. and Fidelity Investments – recently dived headfirst into the cryptocurrency world. And with a total of 14 trillion dollars in assets under management, there is something to be careful about.
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BlackRock’s Larry Fink is excited about the future
In his annual report to shareholders, BlackRock CEO Larry Fink shared his excitement for the future of cryptocurrency and digital assets as a whole.
“At BlackRock, we continue to explore the digital asset ecosystem, particularly areas most relevant to our clients, such as permissioned blockchains and the tokenization of stocks and bonds,” Fink wrote.
This is not the first time that BlackRock and Fink have made clear their intention about their involvement in the blockchain and the new technology area. In 2022, BlackRock partnered with Coinbase to give its institutional clients access to Bitcoin. It was a bold move for an investment firm of BlackRock’s size and reach, but it has been a welcome addition.
Fidelity joins the crypto revolution
Earlier this month, Fidelity Crypto went public, allowing tens of millions of its retail customers to buy and sell Bitcoin, Ethereum and other cryptocurrencies. Adding to the excitement is the fact that all Bitcoin and Ethereum transactions on the app are commission-free.
And don’t forget this: The investment manager archived three US trademark applications by the end of 2022. The applications mentioned crypto trading, metaverse investment services, non-fungible tokens (NFT) and virtual real estate investment. All these areas are set for hyper growth in 2023 and beyond.
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Summary
When companies like BlackRock and Fidelity take a step into the future—like going all-in on cryptocurrency and digital assets—it’s important to take notice. No one knows when the next crypto bull run will come, but when it does, it’s safe to say that BlackRock and Fidelity will be able to take full advantage.
See next: In addition to crypto investing, changes in federal law have made it easier than ever for regular investors to invest in top startups around the country. From real estate companies like ARKHAUS to healthcare startups that Aura Healththere is no shortage of investment opportunities.
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