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 As BlackRock reiterates that an optimal investment allocation should include 84.9% BTC, the firm has formed a major investment partnership in India. 
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 Global investment giant BlackRock is expanding its reach in India with a partnership targeting the launch of the “digital-first offering” in India. 
 BlackRock, on July 26, officially announced a joint <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a>ment project with Jio Financial Services (JFS), an arm of Indian tycoon Mukesh Ambani’s Reliance Industries — India’s most-valued firm. The companies each plan to <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a> up to $150 million in the 50:50 joint venture. 
 Named “Jio BlackRock,” the project aims to provide “tech-enabled” access to “affordable, innovative investment solutions” to millions of investors in India, the announcement reads. 
 The venture will utilize BlackRock’s expertise and talent in <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a>ment management, tech access, operations, scale and market intellectual capital, the announcement said. JFS will in turn contribute to local market insights as well as <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> infrastructure and execution capabilities. 
 The partnership will introduce a new player to the India market with a “unique combination of scope, scale, and resources,” the announcement notes. JFS CEO Hitesh Sethia stated: 
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 “The partnership will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products.” 
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 The new joint venture is subject to regulatory and statutory approvals before its launch, the companies noted. 
 Related: BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says 
 While referring to the new product as the “<a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a>-first offering” in India, BlackRock and JFS didn’t specify any concrete plans for cryptocurrencies, such as Bitcoin (BTC), or any type of <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> assets. The firms didn’t immediately respond to Cointelegraph’s request to comment. 
 The news comes just as BlackRock analysts reiterate that an optimal <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a>ment allocation should include 84.9% BTC, 9% stocks and 6% real estate. The analysts previously made a similar claim in 2022. 
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 If all investors follow BlackRock’s optimal BTC allocation, Bitcoin will be worth more than 5x the total value of all equities, real estate, and bonds. 84.9% BTC and 15.1% everything else If total global wealth is ~ $800T today, #Bitcoin would be $190M per coin. https://t.co/oMHzVEMLIU— Joe Burnett ()³ (@IIICapital) July 25, 2023 
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 BlackRock has recently&nbsp;fueled notable bullish action on cryptocurrency markets by filing an application for a spot Bitcoin exchange-traded fund (ETF) in the United States. The U.S. Securities and Exchange Commission officially accepted BlackRock’s spot Bitcoin ETF application for review in mid-July. 
 Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space. 
 Magazine: Hall of Flame: Wolf Of All Streets worries about a world where Bitcoin hits $1M 
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Crypto-friendly BlackRock starts ‘digital-first’ investment offering in India

TheBitTimes

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