TechFlow news, November 18 — According to Cointelegraph, BlackRock, the world's largest asset management firm and issuer of a spot Bitcoin ETF, announced it has obtained a commercial operating license in Abu Dhabi and is currently applying for an operational license from the Abu Dhabi Global Market (ADGM).
Charles Hatami, Head of Middle East at BlackRock, said the company will focus on developing private markets and artificial intelligence infrastructure businesses. As a global financial hub, Abu Dhabi’s strategic location, proactive government policies, and commitment to sustainability make it an ideal location for capital markets. Notably, the UAE has been active in the cryptocurrency space, ranking third globally in the cryptocurrency adoption index released by the Henley Foundation in August this year.
Currently, BlackRock’s iShares Bitcoin Trust ETF has surpassed $33 billion in assets under management, exceeding its gold ETF products. The company has not yet disclosed specific business plans for the UAE.
