According to TechFlow, on November 18, Cointelegraph reported that BlackRock, the world's largest asset management company and issuer of Bitcoin spot ETF, announced that it had obtained a business license in Abu Dhabi and was applying for an operating license for the Abu Dhabi Global Market (ADGM).
Charles Hatami, head of BlackRock Middle East, said the company will focus on developing private markets and artificial intelligence infrastructure businesses. As a global financial center, Abu Dhabi's strategic location, proactive government policies and commitment to sustainable development make it an ideal location for capital markets. It is worth noting that the UAE is active in the cryptocurrency field and ranked third in the world in the cryptocurrency adoption index released by the Henry Foundation in August this year.
Currently, the scale of BlackRock's iShares Bitcoin Trust ETF has exceeded US$33 billion, exceeding its gold ETF product. The company has not yet disclosed its specific business plans in the UAE.