BlackRock To Offer Institutional Clients Crypto via Coinbase

The partnership would allow investors to manage bitcoin exposures in existing workflows, BlackRock exec says

August 4, 2022 10:24 am

Source: Shutterstock

Users of BlackRock’s Aladdin platform include asset managers, pension funds, insurers and corporate treasurers
BlackRock CEO Larry Fink said in March the war in Ukraine could accelerate the adoption of digital currency

Coinbase has partnered with the world’s largest asset manager to offer BlackRock institutional clients access to crypto.

By connecting BlackRock’s investment platform, Aladdin, and Coinbase Prime, the companies are providing crypto trading, custody, prime brokerage and reporting capabilities to clients of both Aladdin and Coinbase, according to a Thursday blog post by Brett Tejpaul, head of Coinbase Institutional, and Greg Tusar, vice president of institutional product.

After the news, BlackRock’s stock was $694.27, as of 10:20 am ET, up more than 0.5% for the day. Coinbase’s price was nearly $96 at that time, up more than 18% for the day.

Newsletter

Subscribe to The Breakdown

Coinbase launched Coinbase Prime last year as a way to offer institutions the ability to trade 200 assets and custody more than 300 assets. It also provides prime financing, staking, analytics and reporting tools.

Aladdin combines sophisticated risk analytics with comprehensive portfolio management, trading and operations tools. Its users include asset managers, pension funds, insurers and corporate treasurers.

BlackRock’s institutional clients are increasingly interested in gaining exposure to digital asset markets, Joseph Chalom, the fund group’s global head of strategic ecosystem partnerships, said in a statement.

“This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes,” Chalom said.

A BlackRock spokesperson declined to comment further.

The focus will initially be on offering access to bitcoin for institutional clients. BlackRock and Coinbase are looking to roll out capabilities to other clients down the line.

The $8.5 trillion asset manager’s step into crypto comes after BlackRock launched a blockchain ETF in April. BlackRock CEO Larry Fink said the month prior that the war in Ukraine could accelerate the adoption of digital currency.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
0xResearch: Alpha in your inbox. Think like an analyst.

Tags

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2026

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

Kinetiq Protocol: From LST Infrastructure to HIP-3 Deployer

Kinetiq has established itself as Hyperliquid's dominant liquid staking protocol, holding 82.5% of LST market share with $610M in TVL. The protocol is now expanding beyond its kHYPE staking core into higher take-rate verticals: iHYPE for institutional custody rails, Launch for HIP-3 capital formation, and Markets for builder-deployed perpetuals. We view Markets, launching Jan. 12, as the highest-potential product line given its mechanically scalable, activity-linked unit economics. Near-term revenue remains anchored by kHYPE's KIP-2 fee schedule (~$1.6M annualized), while Markets provides embedded optionality if HIP-3 economics normalize post-Growth Mode. KNTQ's setup is relatively clean: zero insider unlocks until November 2026, 6.2% buyback yield from staking revenue, and cleared airdrop overhang. Risks center on unproven Markets execution, declining kHYPE TVL despite ongoing incentives, and competition from Hyperliquid's native initiatives.

by Research Team