BlackRock Inc. recently announced a partnership with Coinbase Global Inc. on Twitter. They stated that they plan to make it easier for institutional investors to manage and trade Bitcoin. As a result of the announcement, Coinbase stock increased 19% to $95.81 at 10:30 am in New York, at the time of reporting.
Now, BlackRock clients will be able to use its Aladdin investment management system to oversee their exposure to Bitcoin along with other portfolio assets such as stocks and bonds and to facilitate financing and trading on Coinbase’s exchange.
Joseph Chalom, BlackRock’s global head of strategic ecosystem partnerships, made the following statement: “Our institutional clients are increasingly interested in gaining exposure to digital-asset markets and are focused on how to efficiently manage the operational life cycle of these assets.” 
