Bitcoin, Ethereum, and other major cryptocurrencies struggled to maintain the momentum they did in July. The price of bitcoin, down around 70% from its all-time highs, had started rising last month but has since stalled as traders wait for a bombshell from the Federal Reserve.
The price of other top ten coins such as Ethereum, BNB (+4.6%BNB), XRP (+2.7%XRP%), Solana, Cardano, and Dogecoin have also struggled.
Now BlackRock, the world’s largest asset manager with $10 trillion in assets under management, has partnered with major crypto exchange Coinbase to give its institutional clients access to bitcoin.
“This is a huge milestone for the crypto space as it demonstrates the demand from BlackRock clients and institutional investors to access bitcoin,” Marcus Sotiriou, an analyst at digital asset broker GlobalBlock, said via email. “BlackRock is opening the floodgates for institutions to access bitcoin.”
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