BlackRock Financial Management Inc., the $ 7.8 billion asset manager, is apparently ready to expand its presence in blockchain and digital assets.
According to a new position, the company is recruiting for the position of vice president, an advantage for its office in New York. The person appointed to this role will have the task of ‘creating and implementing strategies designed to enhance the demand for the firm’s supply’, as well as’ improving the value proposition […] of the company’s investments and technology offerings. ”
The candidate must have at least one year of experience in blockchain business, including “cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography.”
Although the post does not specify any blockchain-related products being developed at the firm, it is possible that BlackRock will position itself to meet the growing institutional demand for digital assets.
As Forbes reported earlier this year, there is evidence to suggest that investors of BlackRock’s long-term investment products are fleeing crypto-funds offered by Grayscale and others. It is part of a broader institutional hub towards Bitcoin and other digital assets that is currently underway.
After their initial skepticism, BlackRock’s most senior executives commented favorably on Bitcoin and the broader digital asset market. Larry Fink, CEO of the company, says Bitcoin has attracted the attention and imagination of many people, including those who work at BlackRock.
Rick Rieder, BlackRock’s CEO of fixed income, says that Bitcoin is not only here to stay, but that it “will take the place of gold to a large extent.”
BlackRock has indirect exposure to Bitcoin via MicroStrategy, the business intelligence firm that now owns 70,470 BTC after a series of purchases this year.