As a seasoned crypto investor with a keen interest in the latest developments within the industry, I’m excited by BlackRock’s announcement to index the private markets following their acquisition of Preqin. The London-based data provider is widely recognized for its index funds and will bring significant value to BlackRock’s mission to become a leading player in alternative assets.
As a crypto investor, I’m always on the lookout for new opportunities and trends in the market. Recently, I was excited to hear about BlackRock’s plans to expand into the private market. BlackRock CEO Larry Fink made this announcement following the acquisition of data provider Preqin. By indexing the private market, BlackRock aims to provide its clients with access to a wider range of investment opportunities and potentially higher returns. This move could revolutionize the way we invest in cryptocurrencies and other alternative assets, making it an exciting development for me as an investor.
BlackRock to Meet Increased Private Market Demand
As an analyst, I’d rephrase that sentence as follows: I, during a recent call with investors and financial analysts on Monday, delved deeper into the topic of our acquisition of Preqin.
As an analyst, I’d put it this way: I noted that iShares’ indexing principles are set to be applied in the private markets by the London-based provider of private capital data. Notably, this firm is renowned for its index funds. BlackRock’s transaction with Preqin, valued at £2.55 billion or roughly $3.2 billion, underscores their commitment to expanding beyond public markets.
Larry Fink expressed his intention to expand BlackRock’s influence into the private markets by “applying indexing strategies, similar to those used in iShares, to this sector” during a recent call with financial analysts regarding the Prequin acquisition. (via @sabrush)
— Eric Balchunas (@EricBalchunas) July 1, 2024
According to Fink’s perspective, BlackRock’s purchase of Preqin is in line with their strategy to establish a prominent role in the alternative asset sector. Fink believes that indices and data are instrumental in making alternative assets more accessible to a wider audience, leading to their democratization. Upon recognizing growing investor interest in private market data, BlackRock chose to enter this indexing field.
BlackRock’s CEO stated that they have developed substantial, thriving sources of revenue outside of asset management, which have brought significant benefits to both clients and shareholders due to increased demand. The goal is to replicate this success in the less developed areas of data, analytics, and index services for private markets.
The deal hasn’t been finalized just yet, but it’s anticipated to be completed by the end of this year. However, it’s important to note that it’s still pending approval from regulators and other relevant parties.
Solana ETF Could be BlackRock’s Next Move
BlackRock has ventured into the private market arena by introducing crypto products, specifically spot Bitcoin and Ethereum exchange-traded funds (ETFs). Last year, the company submitted an application for a spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC). Following a roughly six-month review process, the SEC granted approval, enabling BlackRock and other applicants to commence trading of this innovative financial product.
As a researcher, I’ve observed that BlackRock submitted its application for a spot Ethereum Exchange-Traded Fund (ETF) before the SEC made decisions on Bitcoin ETF applications in January. The SEC held off on making a decision regarding BlackRock’s filing, as well as those from VanEck, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. It wasn’t until May 23 that the SEC finally approved these applications. However, these offerings have not yet become available for trading.
The new prospective product under consideration is now a Solana Exchange-Traded Fund (ETF). VanEck and 21Shares have submitted their Form 19b-4 applications for this offering, and other crypto ETF applicants are anticipated to follow suit. With BlackRock’s recent discussions about indexing the private market, it is plausible that they could be the next major player to introduce a Solana ETF.
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2024-07-01 23:51