BlackRock Financial Management Inc., a $ 7.8 trillion asset manager, looks set to expand its presence in blockchain and digital assets.
According to a new job announcement, the company is recruiting for the position of vice president, blockchain leader for its New York office. The person hired for this role will be tasked with creating and implementing “strategies designed to drive demand for the company’s offerings”, as well as “improving the value proposition […] of the company’s investments and technology offerings. ”
The candidate must have at least one year of experience in blockchain business, including “cryptographic hash functions, distributed network consensus mechanisms and public-private key cryptography”.
Although the job does not specify any blockchain-related products under development at the company, 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 some evidence to suggest that investors are evading BlackRock’s long-term investment products through crypto funds offered by Grayscale and others. This is part of a broader institutional pivot towards Bitcoin and other ongoing digital assets.
After their initial skepticism, BlackRock’s most senior executives made favorable comments about Bitcoin and the broader digital asset market. Larry Fink, the company’s CEO, says that Bitcoin “has caught the attention and imagination of many people”, including those who work at BlackRock.
Rick Rieder, fixed income CIO at BlackRock, says that Bitcoin is not just here to stay, but that it “will take the place of gold for the most part”.
BlackRock has indirect exposure to Bitcoin via MicroStrategy, the business intelligence company that now holds 70,470 BTC after a series of purchases this year.