Asset management firm State Street announced the launch of a digital asset platform for institutional clients, providing tokenization, node management, and custodial services.
Collaboration with Taurus
State Street is partnering with digital asset infrastructure provider Taurus to offer their services. Leveraging Taurus-PROTECT, Taurus-CAPITAL, and Taurus-EXPLORER products will enable State Street to streamline the process of servicing and issuing digital assets like digital securities and fund management vehicles.
Investing in Digital Assets
Following the introduction of BlackRock's spot Bitcoin ETF in the US, institutional interest in digital assets has surged. Recent data from Bitwise indicates that 66% of institutional Bitcoin investors held or increased their BTC holdings in the second quarter of 2024.
Role of Bitcoin ETFs
An unnamed source revealed that Morgan Stanley has permitted its 15,000 advisers to recommend Bitcoin ETF options like iShares Bitcoin Trust and Wise Origin Bitcoin Fund to clients. Inflows into Bitcoin ETFs remain strong despite recent market turbulence.
The launch of State Street's digital asset platform and the continued growth in interest for Bitcoin ETFs highlight the increasing focus of institutional players on digital assets and the investment opportunities they offer.
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