As the world’s largest asset manager and issuer of crypto exchange-traded funds (ETFs), BlackRock, solidifies its foothold in the industry, the firm’s Head of Digital Assets, Robbie Mitchnick, recently made interesting statements on key issues regarding BlackRock’s position and vision of the financial landscape. In a recent interview with Bankless, Mitchnick outlined BlackRock’s strategy for […]
The $30 billion AI infrastructure venture could significantly boost economic growth, job creation, and sustainable AI innovation globally.
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The crypto market is up today, following a bullish performance from US equities markets and traders’ anticipation of an interest rate cut by the Federal Reserve.
Rumors alleging Coinbase (COIN) of issuing bitcoin IOUs to BlackRock were quickly shut down by industry experts as well as Coinbase CEO Brian Armstrong on Monday.
BlackRock and Bitcoin ETFs, according to Bloomberg analyst Eric Balchunas, have consistently stopped disastrous declines in the value of the crypto. Related Reading: Crypto Beef Up 2024 US Elections With $190 Million In Donations This coincides with speculations that BlackRock uses Coinbase’s Bitcoin IOUs to control the market, therefore shorting BTC and perhaps triggering price […]
BlackRock, the prominent American multinational investment management corporation, has once again emphasized the enduring belief surrounding the Bitcoin potential as a strategic asset. In a recent statement, the firm reiterated a school of thought that has been gaining momentum within the financial world for years. According to the investment company, BTC is a good tool for hedging against increasing global disorder, which might arise from growing distrust in governments, banks, and fiat currencies. Reflecting on this perspective, renowned cryptocurrency analyst Michaël van de Poppe aligns with BlackRock’s outlook, predicting a Bitcoin price as high as $600,000 in the current market cycle. BlackRock’s Involvement With Bitcoin There’s no denying the fact that BlackRock’s decision to foray into Bitcoin in 2023 through applications of Spot Bitcoin ETFs was a turning point for the cryptocurrency. As the biggest asset manager in the world, this move sent ripples throughout the investment community and affirmed Bitcoin’s growing role as a legitimate asset class. Related Reading: XRP Price To Reach $40? Crypto Analyst Says You Should Get In Right Now CEO of BlackRock, Larry Fink, who was once a proud Bitcoin skeptic, changed his stance and became an advocate of investors adding Bitcoin to their portfolio in order to hedge against inflation. According to him, Bitcoin “is an asset class that protects you.” In a similar statement, Blackrock noted that Bitcoin could be a “hedge against increasing global disorder and declining trust in governments, banks, and fiat currencies.” This comes amidst inflation concerns in economies all around the globe since the beginning of the year. The company’s perspective echoes the sentiments of many investors who believe that as the cracks in conventional financial systems become more apparent, BTC will play a critical role in preserving wealth as its value continues to increase in the future. An example of such investors is Michaël van de Poppe, who is a staunch Bitcoin enthusiast. In reply to a social media post mentioning BlackRock’s comments, van de Poppe noted that Bitcoin’s current valuation is still very low. In terms of a correct valuation, the analyst notes a target between $300,000 and $600,000. Bitcoin currently trades at $57,983, which represents price increases of 417% and 935%, respectively. This explains it all. The current valuation of #Bitcoin is still super low. I wouldn’t be surprised with $300,000-600,000 this cycle. https://t.co/5GUaBPMZ6A — Michaël van de Poppe (@CryptoMichNL) September 12, 2024 What’s Next For BTC? Although BTC is up by 3.89% in seven days, it continues to hover beneath $58,000 in what seems like forever. This is because Spot Bitcoin ETFs, which recently went on two days of inflows after weeks of consecutive outflows, recently registered another day of outflow. This could suggest a slowdown in a growing bullish sentiment among institutional investors. Related Reading: Shiba Inu Accumulation: Whales Pull Out $4 Million From Exchanges, Can SHIB Recover? From a technical perspective, Bitcoin faces critical resistance at several key price levels. The first significant hurdle for the cryptocurrency would be breaking through the $60,000 mark, and then $62,000 with strong upward momentum. Featured image created with Dall.E, chart from Tradingview.com
US-based spot Bitcoin (BTC) exchange-traded-funds (ETFs) saw a net outflow of $43 million on September 11, 2024, following two days of inflows, data from SoSoValue confirms. Ark Invest and Grayscale Lead Bitcoin ETF Outflows According to data from SoSoValue – a crypto ETF data provider – US spot BTC ETF outflows were led by Ark […]
Centrifuge, a real-world asset (RWA) solution and a Parachain, has a plan for Polkadot, a smart contracts platform. In a proposal, the RWA platform suggests that the newly created Polkadot Community Foundation allocates $3 million USDC to their T-Bill pool. This pool is held within the Anemoy Liquid Treasury Fund and aims to serve multiple objectives. Centrifuge Wants Polkadot To Invest $3 Million In T-Bills In their proposal, allocating the $3 million to T-Bill as an investment will benefit the broader ecosystem. Of note, it will help boost the long-term sustainability of the Polkadot Treasury. This is because the T-Bill pool will generate stable yields from real-world assets, thereby further increasing the financial health of the Treasury. Related Reading: Cardano Foundation Reports Massive Growth In These Key Metrics – ADA Price Soars 3% Though the funds will be from the foundation, Centrifuge argues that injecting the $3 million USDC into the T-Bill pool will help increase the network’s total value locked (TVL). Subsequently, this will also expand the Treasury’s assets. The foundation might consider investing in RWAs, as proposed by Centrifuge, as it could foster the growth of this technology within Polkadot, pushing adoption and growth as a result. Laying out their proposal, Centrifuge said if the foundation decides to invest, it would align with their previous investment in the Anemoy Liquid Treasury Fund. In turn, this may offer a unique opportunity for Polkadot to diversify and expand its investment basket. It is especially now that tokenization and RWA is picking up momentum. RWA Picking Up Steam, Will DOT Reverse Losses? BlackRock, one of the top asset managers in the world, is one of the leaders in tokenizing treasury bills. On Ethereum, the manager has launched BUIDL, a platform where institutions can invest in tokenized Treasury bills. As of September 10, BUIDL is the largest tokenized Treasuries provider, managing over $514 million, according to RWA.xyz. The proposal is so far garnering community support. Roughly a week before the decision, over 53% agreed with this proposal. However, some community members are expressing concerns. Related Reading: Ethereum Sees Massive Outflows from Derivatives: What Does This Mean For ETH? Most of them point to the potential risks and the negative implications of this on the network’s Treasury. One concern is that if this is approved, it could increase DOT spending requests, eventually depleting its reserves. While the prospect of RWA taking off in Polkadot is bullish, DOT is still under pressure. From the daily chart, DOT is down roughly 65% from March highs. It is also in a descending channel and retesting multi-month support. The primary support lies at around $3.5. On the upper end, resistance is at $5. A break above this line will lift sentiment, propelling the coin towards $6.5 in a buy trend continuation formation. Feature image from Unsplash, chart from TradingView
After Solana and Near, Libre protocol is deploying its pool of tokenized funds on the Aptos blockchain.
After Solana and Near, Libre protocol is deploying its pool of tokenized funds on the Aptos blockchain.
This week’s Crypto Biz explores Pavel Durov’s arrest and consequences for Telegram, Nvidia’s earnings results, OpenSea’s Wells notice, Rhodium’s bankruptcy, BlackRock’s new crypto ETF and SxT Labs’ fundraising.
The asset manager has expanded its portfolio of crypto-based products in Brazil with the debut of the recently launched iShares Ethereum Trust through a depositary receipt.
Tokenized treasury products are gaining widespread adoption on blockchain networks.
Options would allow institutional investors to hedge risks and traders to amplify their buying power.
BlackRock and other funds have collected billions of dollars worth of inflows for their Ethereum products. Massive outflows from the Grayscale Ethereum Trust (ETHE) have overshadowed that, though.
Around 80% of the past fortnight’s spot Bitcoin ETF trading days have had positive flows, despite Bitcoin seeing sideways price action.
According to the latest data, the world’s largest asset manager BlackRock has added another feather to its cap, becoming the company with the largest crypto exchange-traded fund (ETF) holdings. Here’s How BlackRock’s ETFs Compare To Grayscale’s Funds Crypto intelligence platform Arkham revealed in a post on X that BlackRock has usurped Grayscale to become the […]
44% of asset managers increased their Bitcoin ETF holdings, while 22% held their position, which was a “pretty good result,” according to Bitwise’s investment chief.
On-chain data platform Token Terminal has set the stage for a potential seismic shift in the crypto ecosystem. It predicts that $10 trillion asset management giant and exchange-traded fund (ETF) issuer BlackRock is preparing to unveil its blockchain platform. BlackRock’s Crypto Masterplan Recent research by Token Terminal delves into BlackRock’s strategic entry into the crypto […]
In a notable development, BlackRock, one of the world’s largest asset managers and ETF issuers, has collaborated with the Nasdaq Stock Market in a move to introduce options for its Ethereum ETF recently approved by US regulators. 2025 Decision On Ethereum ETF Options Proposal The filing with the US Securities and Exchange Commission (SEC) outlines BlackRock’s proposal to amend Options 4, Section 3 to allow for options trading on the iShares Ethereum ETF Trust. Related Reading: 3 Reasons To Buy XRP Now: Crypto Analyst Shares Bullish Forecast Per the filling, if approved, options on the Trust will adhere to the Exchange’s existing rules for ETF options trading. These rules govern various aspects such as listing criteria, expirations, exercise prices, margin requirements, and trading halt procedures, ensuring a standardized approach to trading options on the Trust. The filling further reads: ….The Exchange believes that offering options on the Trust for trading on the Exchange will promote competition by providing investors with an additional, relatively low-cost means to hedge their portfolios and meet their investment needs in connection with spot ether prices and ether related products and positions However, Bloomberg ETF expert James Seyffart noted that the introduction of options on BlackRock’s Ethereum ETF is subject to regulatory approval not only from the SEC, but also from the Options Clearing Corporation (OCC) and the Commodity Futures Trading Commission (CFTC). Seyffart expects a final decision from the SEC around April 9, 2025. Key Levels To Watch For ETH’s Price This development, if approved by the SEC, would give investors further exposure to the second largest cryptocurrency on the market. However, in the near term, ETH needs bullish catalysts to break out of the downtrend witnessed especially on Monday, when the token retraced over 20% following global economic uncertainties and increased selling pressure. Related Reading: Bitcoin Sellers Running Out Of Coins As Dominance Hits 3-Year High At the time of writing, ETH is trading at $2,488, up 1.8% over the past 24 hours, after plunging to a low of $2,112, a level not seen since January 2023 on Monday. This level is key as crypto analyst Trading Tank, in a recent social media post on X (formerly Twitter), claims that as long as ETH remains above $2,400, further price recovery could be seen in the near future for the second largest cryptocurrency on the market. Trading Tank also highlighted the $2,575 level as crucial for another leg higher to test its first resistance to climb to higher levels at $2,690 on the ETH/USDT daily chart. In the scenario in which ETH could breach this barrier, the next hurdle to watch is noted by the $2,910 resistance level, which is imperative to reclaim the $3,000 milestone. Featured image from DALL-E, chart from TradingView.com
BlackRock’s iShares Ethereum Trust, known also as ETHA, has almost hit $900 million in total inflows after just 11 trading days.
Morgan Stanley will be the first major Wall Street bank to permit its financial advisors to offer spot Bitcoin exchange-traded funds (ETFs), CNBC reported on Aug. 2, citing sources familiar with the matter. This decision enables Morgan Stanley’s over 15,000 financial advisors to sell shares of BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin […]
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Despite growing rumors that the world’s largest asset manager may file a spot Solana ETF (exchange-traded fund) with the US Securities and Exchange Commission (SEC), BlackRock executive Samara Cohen has dismissed the possibility, at least in the near future. BlackRock Pours Cold Water On Solana ETF Hopes In a recent interview with Bloomberg, Samara Cohen, […]
Ethereum whales also known as major investors are gradually returning to the market following recent positive developments around ETH, which demonstrates renewed optimism among institutional and retail investors around the crypto asset. Current data shows that the whales have amassed 426,000 ETH in light of rising excitement over the introduction of spot Ethereum Exchange-Traded Funds […]
The author and Bitcoin advocate's panel was sobering, harkening back to the Bitcoin community's, anti-establishment ethos.
BlackRock's iShares Ethereum Trust led with $266 million in net inflows as spot Ethereum funds made a strong debut in the US market.
The post BlackRock Ethereum ETF draws most inflows on first trading day appeared first on Crypto Briefing.
Bitcoin price could reach above the $88,000 mark by September, driven by continued Bitcoin ETF inflows.
The eight recently launched spot ethereum {{ETH}} exchange-traded funds (ETFs) posted nearly $600 million worth of volume in the first half of their first day of availability, according to data from Bloomberg.
A Grayscale executive said the products will provide traditional investors with exposure to an asset that has the potential to transform the entire financial system.
A Grayscale executive said the products will provide traditional investors with exposure to an asset that has the potential to transform the entire financial system.