Crypto brokerage Blockchain.com on Wednesday launched an asset management service aimed at institutional and high net worth investors.
- The crypto asset management platform is named Blockchain.com Asset Management (BCAM), and was created in partnership with Altis Partners, which will manage BCAM’s investments, according to an announcement posted on Medium.
- “BCAM combines the very best of old world financial markets with the new world of crypto,” said Blockchain.com Chief Strategy Officer Charles McGarraugh in the announcement. He will also lead the platform as Altis’ chief investment officer. “The advent of distributed ledger technologies and crypto assets has the potential to change the structure of financial services and global capital markets while presenting new opportunities for investors,” he noted.
- Among BCAM’s initial offerings is Bitcoin Tracker, which will track bitcoin (BTC) priced in dollars, and Bitcoin Smart Beta, which uses “algorithm-based” management to help flatten volatility and drawdowns.
- Blockchain.com last week closed a funding round led by Lightspeed Venture Partners that valued the company at $14 billion.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.