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Crypto news: BlackRock to offer clients crypto trading

By Daniela Ešnerová


Updated

BlackRock sign and logo on glass facade of financial investment management corporation office building in Silicon Valley, San Francisco, California, US
BlackRock is gearing up to enter the cryptocurrency space – Photo: Shutterstock

BlackRock (BLK) – the world’s biggest asset manager, with assets under management (AUM) of up to $10trn (€8.7trn, £7.37trn) as of January 2022 and clients in 100 countries – is reportedly considering offering cryptocurrency trading to its clients, acording to sources quoted by Coindesk.

This would enable several of BlackRock’s clients – especially pension schemes or endowment funds – to trade cryptocurrency via the asset manager’s platform, Aladdin. 

Market overview

As of 08:00 GMT this morning, the cryptocurrency market was virtually unchanged in day-to-day trading in London. The total crypto market volume over the past 24 hours was $85.02bn, representing a 10.28% decrease from the day before. 

The volume of all stablecoins was $68.83bn at 08:00 GMT, making up 80.96% of the total crypto market 24-hour volume.

The global crypto market cap is currently worth $2.02trn (£1.49trn, €1.76trn) – representing a 1.99% increase over the last day, according to CoinMarketCap.com. Meanwhile, bitcoin’s (BTC’s) dominance was 41.48%, a decrease of 0.22% over the past 24 hours.

SOL/USD

180.65 Price
-1.160% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,497.28 Price
-0.050% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

DOGE/USD

0.14 Price
-1.920% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

XRP/USD

0.61 Price
+1.640% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

However, inflation data from the US, which will be published later today, may spark reaction in the cryptocurrency market. Last November, the 31-year-high inflation figures led to BTC hitting its all-time high, sparking a record-setting rally in the markets.

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Chart of the day 

  • The year 2021 has brought new trends to the cryptocurrency market, including the current craze for non-fungible tokens (NFTs). NFTs have gathered increasing interest around the world, with Google searches for NFTs now catching up to – and in some cases, surpassing – searches for cryptocurrencies.

    Capital.com has explored Google Trends to examine global search interest for NFTs versus cryptocurrency around the world; the results can be found here.
Chart showing shift in Google searches from cryptos to NFTsGoogle searches for NFTs are now catching up with or overtaking cryptocurrencies – Credit: Capital.com

Quote of the day

Michael Saylor, co-founder, chairman and CEO of Nasdaq-listed analytics and business intelligence company MicroStrategy – the biggest corporate owner of BTC, with BTC125,051 – made the following prediction on Fox News about what the future may hold for bitcoin:

“When banks can hold it on their balance sheets, you will see a lot of less expensive credit. And then the selling pressure will decrease and people will not sell their digital property.”

Top coins by market capitalisation

As of 08:00 GMT: 

Winners and losers

  • Altcoin flow (FLOW) entered the top 50 cryptocurrencies by market capitalisation after jumping 14.98% in a day to trade at $8.25.  
  • There were no losers listed in this morning’s Winners & Losers results. 

Markets in this article

BNB/USD
Binance Coin / USD
603.53 USD
-3.12 -0.520%
BLK
BlackRock
831.08 USD
1.83 +0.220%
BTC/USD
Bitcoin / USD
67517.90 USD
-253.6 -0.370%
ETH/USD
Ethereum / USD
3497.28 USD
-1.83 -0.050%

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Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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