BlackRock Financial News

Crypto financial services platform Matrixport has predicted a major Bitcoin (BTC) rally driven by favorable macroeconomic conditions and lower US inflation. 

Jack Deino and Raphaël Maréchal join the team as senior portfolio managers, and Alonso Perez-Kakabadse joins as senior portfolio advisor and strategist.

The crypto industry has seen a couple of fake news in the past week alone. First, an erroneous news report claiming that BlackRock Inc. had received the green light to launch a spot Bitcoin (BTC) exchange-traded fund (ETF) spurred the crypto’s price to a new high from $27,900 to $30,000.

BTC/USD Chart (Coinbase)/ Source: TradingView

The recent rally in the Bitcoin (BTC) market, which saw prices hit two-month highs near $30,000 on Monday following false reports that the US Securities and Exchange Commission had approved BlackRock’s spot Bitcoin ETF application, is “an example of the pent-up interest in crypto” opined BlackRock’s CEO Larry Fink in a Fox Business interview on Monday.

A brief 10% surge in Bitcoin gave traders a glimpse into the possible impact of a looming US Securities & Exchange Commission decision on whether to allow exchange-traded funds that invest directly in the token.

Amidst the swirling speculations and ever-evolving crypto landscape, recent rumors of a potential Bitcoin ETF approval have ignited a fervor in the trading community. 

(Reuters) — U.S. asset management giant Vanguard Group has sold its 49% stake in a joint venture with Jack Ma-backed Ant Group Co, Bloomberg News reported on Tuesday, citing people familiar with the matter.

BlackRock CEO Larry Fink has attributed the recent rally in Bitcoin (BTC)'s price to the increasing interest and demand for cryptocurrencies. 

In a rollercoaster week for Bitcoin, the premier cryptocurrency saw its price rise to $28,400, marking a 4.5% uptick on Tuesday. Several significant events influenced this trajectory. 

Bitcoin gave traders a glimpse into the possible impact of a looming US Securities & Exchange Commission decision on whether to allow exchange-traded funds that invest directly in the token. An erroneous report that BlackRock Inc. had won approval to launch a spot ETF rapidly sent the largest digital asset to $30,002 on Monday, the highest price since March. The move cooled after the world’s biggest money manager said its application remains under review, leaving Bitcoin 4.4% higher for Oct. 16. BlackRock is among about a dozen firms seeking to offer the first US spot Bitcoin ETFs amid expectations that the SEC may soon end its opposition to the products. Optimists argue such funds will help spur wider crypto adoption. “This was like a dry run for what’s going to happen if these things actually do get approved,” Bloomberg Intelligence ETF analyst James Seyffart said. “It basically gave traders a playbook.”

Bitcoin's price briefly rose more than 5% to nearly $30,000 early Monday after an erroneous report that investment firm giant BlackRock's bitcoin spot exchange-traded fund (ETF) had received approval from the U.S. Securities and Exchange Commission (SEC).

The world’s largest bitcoin fund is surging faster than the cryptocurrency itself as investors anticipate that an exchange-traded fund centered on the token could soon launch. 

Cryptocurrency advocates are tipping the price of bitcoin to reach $US100,000 within the next five years as approval of the first exchange-traded funds for digital assets open the floodgates to institutional investors.

By Chris Prentice and Hannah Lang

Investing.com — U.S. futures drifted lower Friday, as investors digested the release during the previous session of hotter than expected inflation data as well as key bank earnings.

The Securities and Exchange Commission (SEC) of the United States has recently announced the postponement of its decision regarding several proposals for spot Bitcoin exchange-traded funds (ETFs). This decision impacts applications from well-known entities such as BlackRock, Invesco, Bitwise, and Valkyrie, as stated in separate filings made on September 28.

Reliance Industries Ltd.’s financial services unit and Zerodha Broking Ltd. can only disrupt distribution of mutual funds, not pricing or product offerings, according to Edelweiss Asset Management. “Distribution is where they can make an impact,” said, Radhika Gupta, chief executive officer and managing director of Edelweiss AM, at a Bloomberg New Voices event in Mumbai.

BlackRock filed for a spot bitcoin ETF with the United States Securities and Exchange Commission (SEC). It filed its application through the company that manages its family of ETFs — iShares. It set off a trend with several other traditional finance and crypto-heavy financial institutions refiling for spot ETFs.

According to a recent Tom Bilyeu interview with Arthur Hayes, co-founder of BitMEX, the possible entry of asset management behemoth BlackRock into the Bitcoin sector could reshape the leading cryptocurrency in ways that diverge from its original ethos. 

As FTX executives testify to the sheer magnitude of ex-boss Sam Bankman-Fried’s seismic crypto fraud during his trial, some can’t help but wonder what legitimate purpose the industry can ever actually serve.