BlackRock Financial News

More than $1.2 trillion flowed into money market funds last year, a veritable tidal wave of cash crashing on the sidelines. So what’s going to happen to all that moolah when – and if – the Federal Reserve starts cutting interest rates?

The price of bitcoin (BTC) surged again Tuesday to cross $69,000, an all-time high. The largest cryptocurrency by market cap has now risen more than 61% year-to-date and has tripled in the past year alone.

U.S. Securities and Exchange Commission (SEC) further delayed its decision on an application by asset manager BlackRock for its spot ethereum exchange-traded fund, according to a regulatory filing on Monday. BlackRock in November last year filed its application for its iShares Ethereum Trust, which will be listed on the Nasdaq if approved.

BlackRock sees India and Indonesia as two Asia-Pacific countries offering a lot of investment opportunities, its head of research for the region said on Tuesday. Manjesh Verma, BlackRock Head of APAC Credit and Fixed Income Research, at an investment forum in Jakarta said the two emerging market countries were advantageous due to their large populations.

Bitcoin, the world's largest cryptocurrency by value, hit a two-year high on Monday, surpassing the $66,000 mark as a wave of money brought it within striking distance of the record levels. The Bitcoin price hit a session high of $66,319. It was last up 6.4% at $66,254. From the current market price, Bitcoin is 4% away from its all-time high of $68,999.99, which it touched in November 2021.

Total crypto assets under management (AUM) soared by 27% to $65.66 billion in February, driven by rising Bitcoin prices and growing adoption of Spot Bitcoin ETFs in the US.

By Ankur Banerjee

Square Mile analysts said the fund's return profile has failed to meet expectations and they do not have «sufficient conviction» to justify the fund's inclusion in Square Mile's Academy of Funds. The strategy's highly defensive, non-cyclical, income-focused approach was recognised by the analysts but did not change the outcome. Over a three-year period, the fund has returned 25.4%, compared to the 32.2% gain from the IA Global Equity Income sector. Embark Horizon fund range loses Square Mile rating on move to BlackRock Additionally, the Matthews Asia Pacific Tiger fund lost its ...

The rapid growth of Bitcoin spot ETFs has dramatically reduced the supply of Bitcoin available through over-the-counter (OTC) desks.

By Simon Jessop

Bitcoin ETFs – fueled by fear of missing out on the latest crypto rally. BlackRock Inc.’s iShares Bitcoin Trust (ticker IBIT) netted $612 million Wednesday in its biggest one-session haul, breaking a record set just a day prior, data compiled by Bloomberg show. Altogether, the 10 new exchange-traded funds investing directly in the world’s biggest cryptocurrency took in a net $673 million, even with the outflows seen by Grayscale Bitcoin Trust (GBTC). The cash pouring into the funds handily beat their launch day record of $655 million set on Jan. 11.

Bitcoin’s price hit US$60,000 on Wednesday for the first time in more than two years, as a surge of capital into new U.S. spot bitcoin exchange-traded products fueled a rally that has reached 42 per cent this month, on track for its largest monthly gain since December 2020.

By Amanda Cooper

Bitcoin prices hit $51,757 (€48,274) on Wednesday afternoon, the highest since the beginning of December 2021, following surging demand for Bitcoin exchange-traded funds (ETFs).

BlackRock Inc., which capitalized on a decade-long boom in index investing, said investors should rely more heavily on actively managed strategies.

BlackRock Inc., the world’s biggest asset manager, and Amundi Asset Management, Europe’s largest money manager, both see Japan going from strength to strength. 

The newly launched nine Bitcoin exchange-traded funds (ETFs) in the U.S. have broken an all-time daily record in volume, taking in $2.4 billion which is about double their recent daily average, according to Eric Balchunas from Bloomberg Intelligence.

Carson Group, the registered investment advisor (RIA) platform managing $30 billion in assets, has selected just four spot Bitcoin exchange-traded funds (ETFs) for its users.

Anant Ambani and Radhika Merchant as pre-wedding festivities will take place in Jamnagar, Gujarat from March 1 to March 3. The functions are expected to take place in a traditional yet grand way.

Anant Ambani, the youngest son of Reliance chairman Mukesh Ambani, will wed Radhika Merchant, the daughter of industrialist Viren Merchant, on July 12 in Mumbai. The list of international guests expected to attend the pre-wedding celebrations in Jamnagar in early March reads like a veritable who's who of the global business elite. It includes Microsoft founder Bill Gates, Meta CEO Mark Zuckerberg, BlackRock CEO Larry Fink, Blackstone chairman Stephen Schwarzman, Disney CEO Bob Iger, Ivanka Trump, Morgan Stanley CEO Ted Pick, Bank of America chairman Brian Thomas Moynihan, Qatar Premier Mohammed bin Abdulrahman bin Jassim Al Thani, Adnoc CEO Sultan Ahmed Al Jaber, EL Rothschild chair Lynn Forester de Rothschild, the king and queen of Bhutan, tech investor Yuri Milner and Adobe CEO Shantanu Narayen, among others. The bride and groom recently celebrated their Lagan Lakhvanu. The auspicious ritual, which includes written invitations offered first to the Gods and then to close family, took place on February 16 at Jamnagar, Gujarat, at the Ambani family estate. During the ceremony, bride-to-be Radhika donned a custom-made lehenga by Anamika Khanna.

Bitcoin is riding high. The world's largest cryptocurrency has leapt 22% this year to $52,005, pushing it past a market value of $1 trillion mark for the first time since its record heyday of late 2021.