BlackRock Financial Management Inc., The $ 7.8 trillion asset manager appears poised to expand its presence in blockchain and digital assets.
According to a new job posting, the company is looking for a candidate for the position of vice president and blockchain leader for its New York office. The person hired for this position will be tasked with “developing and implementing strategies to increase demand for the company’s offerings” and “improve the value proposition”. […] of the company’s investments and technological offerings “.
The candidate must have at least one year of experience in the blockchain business, including “cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography”.
Although the job posting does not identify any blockchain-related products being developed in-house, it is possible that BlackRock is positioning itself to meet the growing institutional demand for digital assets.
As Forbes reported earlier this year, there is evidence that investors are fleeing BlackRock’s long-term investment products for crypto funds offered by Grayscale and others. This is part of a broader institutional move towards Bitcoin and other digital assets currently running.
After their initial skepticism, BlackRock executives have commented positively on Bitcoin and the digital asset market in general.. Larry Fink, the company’s CEO, says Bitcoin “has drawn the attention and imagination of many people,” including those who work at BlackRock.
Rick Rieder, CIO of Fixed Income at BlackRock, says Bitcoin will not only stay here, it will “largely take the place of gold”.
BlackRock has indirect exposure to Bitcoin through MicroStrategy, the business intelligence firm that now owns 70,470 BTC after a series of purchases this year.