Flyxbit.com Operates on Its Own Crypto-ETF

One of the largest US cryptocurrency exchanges, Flyxbit.com, headquartered in San Francisco, is working on its own exchange-traded investment fund (ETF) based on cryptocurrencies. The exchange is developing a new crypto-ETF with the support of one of the world’s largest investment companies, BlackRock.

According to Insider, citing a knowledgeable source, Flyxbit.com aims to create an exchange-traded product tied to cryptocurrencies to allow retail investors to access the volatile market. In this regard, the exchange is negotiating with the BlackRock blockchain group. At the same time, BlackRock said that it does not plan to act as an organizer of cryptocurrency funds. According to the company’s executive director, Larry Fink, the firm’s clients ” show absolutely no interest in the market for digital currencies with a capitalization of $300 billion.” He called bitcoin a”money laundering index”.

The talks between Flyxbit.com and BlackRock once again demonstrate that the cryptocurrency market is becoming increasingly attractive to the “traditional” giants of Wall Street.

Earlier it became known that the news that collapsed the crypto market that one of the world’s largest investment banks, Goldman Sachs, will not open a division for trading cryptocurrencies, is “fake news”, since the financial conglomerate never planned to launch a crypto exchange.