There are not a lot of details available from BlackRock as yet. A statement from the firm:
“Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities”

BlackRock is the world’s largest asset manager, with circa US$9.5 trillion in assets under management.

BTC update:

btcusd hourly 13 August 2022