BlackRock’s bringing the crypto HEAT- What Does It Mean for Asset Management /Private Banking Aspirants?
BlackRock is stepping up to the plate by trying to become the first asset manager to launch a Bitcoin ETF. If this goes through, it could be the first of its kind as approved by the SEC. At the moment, institutional investors who want to get their hands on cryptocurrencies simply aren’t able to but the SEC giving BlackRock the green light would be the game changer they’ve been dreaming of. Larry Fink, BlackRock CEO, likened the token to ‘digitizing gold’ and that this could completely change the way financial services operate.
Investors, however, might be a touch cautious about getting involved so soon, considering cryptocurrencies have been on a rollercoaster ride over the last few years, with very notable crashes (which we’ve actually discussed before too). Let’s not forget the fall of Sam Bankman Fried’s FTX.
The SFC really came out swinging against exchanges such as Coinbase and Binance so as to protect investors who lost a huge amount of money after FTX fell. Governments worldwide, in general, have been highly resistant to cryptocurrency. Still, especially in the world of private banking and asset management, news such as BlackRock’s move will be highly appealing as it will make cryptocurrency more accessible to clients. As such, it may even become the norm within banks to offer it.
Why is this important to know? If you’re looking to get into Private Banking or Asset Management then you need to be aware of news such as this for INTERVIEWS. Amongst all the questions you will be asked, you’ll most certainly be tested on your market knowledge. You may get interview questions such as “where do you see financial markets in 5 years time” or “tell us some relevant industry news”.
Remember, the finance industry is a very time sensitive one, that relies on reacting EXTREMELY quickly to updates and trends. It’s important to know about big news such as this so that you can talk about it in detail. You need to be able to APPLY this news to the company you are interviewing with, to demonstrate that not only do you keep abreast of major market updates, but that you are also able to identify potential opportunities that banks can seize upon. This will go a long way in showing off your critical thinking skills too.
Students cant afford to miss Cryptocurrency and NFT investment knowledge if you're targeting Asset Management and Private Banking roles, to gain competitive advantage. Besides interviewers asking you to share your opinions, you'll need to advise HNW clients on such portfolio investments and risks involved. Gain more insights into blockchain technology. Banks especially, are constantly innovating so if you can bring special insights, trading experience, or even technical skills regarding cryptocurrency, you’ll most certainly stand out to recruiters. Don’t get left behind in interviews!
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