{"id":335351,"date":"2024-07-02T02:43:45","date_gmt":"2024-07-01T21:13:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/blackrock-plans-to-index-private-markets-is-solana-etf-in-view-crypto-news\/"},"modified":"2024-07-02T02:53:13","modified_gmt":"2024-07-01T21:23:13","slug":"blackrock-plans-to-index-private-markets-is-solana-etf-in-view-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/blackrock-plans-to-index-private-markets-is-solana-etf-in-view-crypto-news\/","title":{"rendered":"BlackRock Plans To Index Private Markets, Is Solana ETF In View? – Crypto News"},"content":{"rendered":"

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BlackRock CEO Larry Fink has announced the firm\u2019s plan to index the private market after the acquisition of data provider Preqin.<\/p>\n

BlackRock to Meet Increased Private Market Demand<\/strong><\/h2>\n

During a call with investors and analysts on Monday, Fink talked more about the acquisition of Preqin.<\/p>\n

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He highlighted that the plan is to bring the principles of indexing iShares to the private markets as it remains a significant part of public markets. Noteworthy, the London-based private capital database provider is widely known for its index funds. BlackRock\u2019s deal with Preqin is valued at \u00a32.55 billion, approximately $3.2 billion.<\/p>\n

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Larry Fink says he wants BlackRock to \u201cindex the private markets\u201d and \u201cbring the principles of indexing even iShares to the private markets\u201d on call today with analysts about the Prequin deal.. via @sabrush<\/a> https:\/\/t.co\/FLneVshlNe<\/a> pic.twitter.com\/gJDPAn42v2<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) July 1, 2024<\/a><\/p>\n

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The acquisition of Preqin aligns with the investment asset management firm\u2019s push to become a key player in terms of alternative assets. In Fink\u2019s opinion, indexes and data will ultimately drive \u201cthe democratization of all alternatives.\u201d BlackRock decided to pursue this indexing of private market after discovering an increased demand amongst investors for relevant data.<\/p>\n

\u201cThey\u2019ve grown durable, high-growth revenue pools that are adjacent to asset management and they have generated enormous value for clients and shareholders,\u201d BlackRock CEO said speaking of the increased demand. \u201cOur aim is to do all of that in the far less mature data, analytics and index business for all the private markets.\u201d<\/p>\n

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The transaction has not wrapped up\u00a0 yet but is expected to close before the end of the year. It is still subject to regulatory and other necessary approvals.<\/p>\n

Solana ETF Could be BlackRock\u2019s Next Move<\/strong><\/h2>\n

BlackRock has already delved into the private market with its foray into crypto products featuring spot Bitcoin and Ethereum ETFs. The firm filed for spot Bitcoin ETF<\/a> with the United States Securities and Exchange Commission (SEC) last year. The securities regulator approved the offering after about six months, giving BlackRock and other filers the authorization to offer the new product for trading.<\/p>\n

Note that, BlackRock had put out its filing for spot Ethereum ETF<\/a> even before the approval for Bitcoin ETFs came in January. The SEC constantly delayed its decision on the filing together with other spot Ethereum ETF applications. It was not until May 23 that BlackRock\u2019s filing and those of from VanEck, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise were approved by the SEC<\/a>. However, the offering is not up for trading for now.<\/p>\n

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Now the new potential product is a Solana ETF. VanEck<\/a> and 21Shares<\/a> have filed their 19b-4 applications for the offering and the other crypto ETF filers are expected to follow suit. With BlackRock\u2019s recent talks about indexing the private market, the investment asset management firm may just be next in line for a Solana ETF.<\/p>\n

Read More: Shiba Inu Who? 5 Underrated Protocols Fueling Deflation Through Burning<\/a><\/strong><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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