August 19, 2022

Crypto Engine is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. 


Shortly after announcing its collaboration with BlackRock, a digital asset firm, Coinbase’s shares spiked. The two firms joined hands to satisfy the rising demand for crypto services from institutional investors.

Coinbase To Offer Crypto Services To Institutional Investors

According to the deal, Coinbase would start offering crypto custodial, trading, and brokerage services to Blackrock’s clients via Aladin. Aladin is a platform that BlackRock uses to manage end-to-end investments.

Joseph Chalom, a top executive at BlackRock, commented on the partnership in an interview. He said their clients continue to show massive interest in the crypto assets market and how to mitigate the risk involved. 

Chalom continued that the collaboration would allow clients to manage their crypto assets in their existing BlackRock portfolio via Aladin. BlackRock manages about $8 trillion worth of assets which makes it the most significant asset manager globally. 

In March, Larry Fink, CEO at BlackRock, revealed that his clients are in massive demand for crypto products despite the market downturn that was prevalent at the time. Also, Coinbase was facing serious accusations concerning its listings at the time.

The industry has suffered many blows from attacks, hacks, massive selloffs caused by Terra’s crash, etc. These and many unfavorable occurrences in the market have made analysts suggest that institutional investors are fundamental in the recovery and developmental processes of the market. 

Institutional Investors’ Activities Spiked Coinbase’s Shares

Hence, the massive demand emanating from the BlackRock firm is the right step at the right time for the crypto industry. Following the announcement of the partnership, Coinbase’s shares skyrocketed from 14% to 40%. 

It rallied up to a peak of $116.10 before it dropped a bit to $93.82 at the time of publication. Initially, the crypto exchange’s shares have been indifferent to stock changes for a while. 

The stock went up by 20% on Wednesday; still, the stock remained at a 70% low it had been since this year began. Analysts associated the recent massive rise that occurred earlier today with the enormous trading activities of investors. 

According to the report, many investors opened short positions for Coinbase’s shares available for trading, 22%. As the stock declined, they bought more shares to recover their losses, pumping gains on the crypto exchange.

Despite the discouraging market situation, crypto enthusiasts still called it brief darkness before the sunrise. They are looking out for a stock outburst in the next couple of months.

Peter Christiansen, a crypto enthusiast, said that some massive developments are forming in the crypto industry. He hinted at the emergence of the much-anticipated release of Ethereum 2.0 and the regulation of stablecoins.


trade now

Altcoin Directory is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Content Posts) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.


Leave a Reply

Your email address will not be published.

Only $250 and you're Rich - Simple way to make $1,372/Day Learn More
Skip to content