This article comes fromCNBC, Originally by Tanaya Macheel

Odaily Translator | Nian Yin Si Tang

Odaily Translator | Nian Yin Si Tang

The world's largest asset manager said Thursday in ablog postblog post

This new product was disclosed in the , but did not reveal too many details.

"Despite the sharp decline in the digital asset market, we are still seeing strong interest from some institutional clients in how our technology and products can be used to efficiently and affordably access these assets," the firm said in the article.

The bitcoin price remains more than 60% below its all-time high of nearly $69,000. However, many investors believe the fund has found a bottom in relation to stocks. The correlation between the two asset classes is higher than ever this year as risk assets head lower in 2022. Bitcoin topped $24,700 on Thursday, reaching its highest level since June lows.

“Bitcoin, the oldest, largest, and most liquid crypto asset, is currently the topic of greatest interest to our clients in the crypto asset space,” the article continued.

It follows BlackRock CEO Larry Fink saying earlier this year that BlackRock clients are showing "increasing interest" in digital currencies, including stablecoins and the "underlying technology" — also known as for the blockchain.

BlackRock also highlighted the work of energy nonprofits RMI and EnergyWeb on Thursday to "bring greater transparency to the sustainable energy use of bitcoin mining," adding that the firm "will be looking at the impact of these initiatives." progress".

Institutional investors, once hostile to the crypto industry, have changed their tune over the past few years, but environmental concerns surrounding the bitcoin mining process remain a barrier to entry for many.

The article notes that BlackRock has been researching areas that “have the potential to benefit our clients and capital markets more broadly,” including permissioned blockchains, stablecoins, encrypted assets, and tokenization.Thursday’s news revealed BlackRock’s latest foray into the cryptocurrency space. just recently,Coinbase partners with BlackRock

, to provide institutional clients of Aladdin, BlackRock’s end-to-end investment management platform, with direct access to cryptocurrencies, initially including only Bitcoin. Coinbase Prime will provide crypto trading, custody, prime brokerage and reporting capabilities to Aladdin's institutional client base.

At the same time, though, new institutional investors in the market, frustrated with the broader regulatory environment, are eager to see the U.S. Securities and Exchange Commission (SEC) approve the launch of a bitcoin spot exchange-traded fund (ETF). However, so far, this expectation has repeatedly failed, and only Bitcoin futures ETF has been approved.It is worth mentioning that BlackRock is also facing tremendous pressure this year.The firm has lost $1.7 trillion in client funds in the first half of the year

. On the company's earnings call, Chairman and CEO Larry Fink said 2022 is off to the worst start in 50 years for both stocks and bonds.

Only about a quarter of BlackRock's assets were actively managed at the end of June, according to reports. Notably, that's down from a third of what it was in 2009, when BlackRock bought Barclays Global Investors and became the leader in the ETF space. Over the past decade, BlackRock has seen about $21 billion flow out of active stocks and $730 billion into index stocks. As a result, the company has ten times as many passive stock holdings as active stocks.

Salim Ramji, global head of iShares and index investing at BlackRock, said that research and attention to cryptocurrencies themselves will continue, just as they have done in the bond market, gold market and other markets around the world.