Blackrock, the world’s largest asset manager, has explained the importance of the Bitcoin halving. “One of the reasons some people find bitcoin valuable is its scarcity,” Blackrock explained, adding that the halving also “underscores Bitcoin’s decentralized, programmatic nature and its resistance to inflationary pressures that traditional currencies often face.” Blackrock on Bitcoin Halving Blackrock, the […]
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Blackrock Closes in on Grayscale in the Battle for the ‘World’s Largest’ Bitcoin ETF
U.S. spot bitcoin exchange-traded funds (ETFs) experienced three consecutive days of net outflows, with a loss of million on Tuesday. Leading the outflow for the day was Grayscale’s GBTC. After Another Day of Outflow, IBIT Nears GBTC as Potential Leader in Spot Bitcoin ETF Market Grayscale’s GBTC continued to report reductions in its bitcoin […]
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Circle Unveils Smart Contract Service for Blackrock BUIDL Holders to Convert to USDC
On Thursday, the financial technology firm and stablecoin provider Circle introduced smart contract capabilities aimed at enabling holders of the Blackrock USD Institutional Digital Liquidity Fund (BUIDL) to exchange their shares for USDC through Circle. Circle Provides BUIDL Off-Ramp This week, Circle announced it is providing a redemption pathway for BUIDL holders through USDC. BUIDL, […]
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GBTC Drops Nearly 3,000 BTC in a Day as Blackrock, Fidelity Command Record Inflow Streaks
Recent market data highlights that spot bitcoin exchange-traded funds (ETFs) in the United States experienced a net outflow of 3.8 million on April 8, while Grayscale’s Bitcoin Trust (GBTC) saw a substantial outflow of 3 million. GBTC Continues to Face Steep Outflows As of yesterday, GBTC possessed 325,686.78 BTC, but as per Grayscale’s website, this […]
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10 US Bitcoin ETFs Amass Over 519,000 BTC, With Blackrock Leading at 50.81%
The latest data reveals that Blackrock’s spot bitcoin exchange-traded fund (ETF) has increased its bitcoin portfolio, now encompassing 263,937.48 bitcoins valued at .88 billion. Spot Bitcoin ETF Reserves Reach New Heights Several U.S. spot bitcoin ETFs have bolstered their bitcoin (BTC) holdings, bringing the total for ten ETFs, excluding Grayscale’s Bitcoin Trust (GBTC), to 519,440.22 […]
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Blackrock Adds Citi, Goldman, UBS, Citadel as Bitcoin ETF’s Authorized Participants — IBIT Holdings Near 260K BTC
Blackrock, the world’s largest asset manager, now has nine authorized participants for its spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT). They include JPMorgan Securities, ABN Amro, UBS Securities, Goldman Sachs, Citigroup, and Citadel Securities. 9 Authorized Participants for IBIT Blackrock, the world’s largest asset manager, filed an update to its Ishares Bitcoin […]
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Blackrock Spot Bitcoin ETF’s Holdings Soar Past 252K BTC — CEO Says He’s ‘Pleasantly Surprised’ by Retail Demand
Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), has significantly increased its bitcoin holdings, which have now surpassed 252,011 BTC, representing an approximate notional value of billion. This substantial increase reflects a stronger-than-anticipated influx of retail investor demand, exceeding even the CEO’s initial expectations. Blackrock CEO Larry Fink: ‘I’m Pleasantly Surprised’ […]
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Blackrock CEO Larry Fink ‘Very Bullish’ on Bitcoin — Hails IBIT ‘the Fastest Growing ETF’ Ever
The CEO of Blackrock, the world’s largest asset manager, Larry Fink, says he is “very bullish on the long-term viability of Bitcoin.” Noting that he is “pleasantly surprised” by the demand for Blackrock’s spot bitcoin exchange-traded fund (ETF), he emphasized that the Ishares Bitcoin Trust (IBIT) is “the fastest growing ETF in the history of […]
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Why BlackRock Could Bet On This RWA Token: Crypto Analyst
In an era where the boundaries between traditional finance (TradFi) and crypto continue to blur, the tokenization of real-world assets (RWAs) stands out as one of the hottest trends. This trend, which allows tangible assets like vehicles and real estate to be bought and sold as tokens on a blockchain, promises to revolutionize the efficiency and speed of asset transactions.
Just last week, BlackRock, the world’s largest asset manager, has positioned itself at the forefront of this movement with the launch of a 0 million tokenization fund, which has already attracted over 0 million in investment within its first week.
Larry Fink, CEO of BlackRock, has been vocal about the potential of tokenization, stating that RWAs “could revolutionize, again, finance.” This comment has contributed to a notable surge in the valuation of several RWA crypto tokens in recent weeks. In light of these developments, crypto analysts from Layergg have identified a specific crypto project that they believe could garner significant interest from BlackRock.
Why BlackRock Could Choose Aptos
The project in question is Aptos, which has been earmarked for its potential in the RWA space. According to Layergg’s analysis shared on X (formerly Twitter), the narrative surrounding RWA and tokenization, bolstered by BlackRock’s involvement, suggests a nascent yet rapidly growing interest in this sector.
They highlight that mid to low cap RWA projects listed on Binance have performed exceptionally well, indicating a broader market interest spurred by narrative-driven investment strategies. However, the favorite crypto project for BlackRock could be Aptos.
A closer look at Aptos reveals several factors that might make it an attractive partner for BlackRock. Firstly, Aptos is poised to make a significant announcement related to RWA in April, coinciding with the Aptos DeFi DAYS event from April 2 to 5.
This announcement is speculated to involve a partnership with a global asset management firm, potentially BlackRock. “A partnership with a global asset management firm is expected to be announced. It is speculated that this may include BlackRock,” the analysts remarked.
The basis for this speculation includes Aptos CEO Mo Shaikh’s previous tenure at BlackRock, suggesting pre-existing industry connections that could facilitate such a partnership.
Moreover, Aptos founder Mo Shaikh & head of ecosystem at Aptos Labs Neil H hinted at this early on. In mid-February Shaikh revealed via X: “I sat down with three of the world’s largest asset managers this week A little preview…while the year started with ETFs, it will conclude with RWA on-chain en masse, growth in Asia and all using parallelisation on Aptos See you in Hong Kong.”
On February 21, Shaikh also commented on a post on X by Dan Morehead, founder and managing partner at Pantera Capital. Morehead stated, “Tomorrow I’ll be speaking at BlackRock’s Institutional Digital Assets Summit. […] The existence of that Summit **IS** the massive change. Really excited about this.” Mo Shaikh mysteriously commented, “There’s Summit to this.”
Besides that, Adam Cader, founder of Thala Labs recently stated via X that “something is cooking for Aptos. I’m a co-founder of the largest application on the network, and here’s my list of upcoming significant ecosystem wide catalysts.” Cader referenced Shaikh’s statement and added that Blackrock, Vanguard, and Fidelity are the three largest asset managers in the world.
“If I had to guess this refers to either them using the chain in some way / integrating it into one of their products which has precedent in the TradFi world. Also note Blackrock is the most crypto-aligned of the bunch,” he said via X.
Crypto Revolution: Will APT Follow AVAX?
But that’s not all. Aptos has been hinted to explore partnerships with other major asset management firms, including Franklin Templeton, which has previously invested in Aptos (tier 3) and planned to utilize its blockchain for money market funds.
Such strategic alliances could position Aptos similarly to how Avalanche benefited from its partnerships in the Project Guardian initiative (JPMorgan and Wisdomtree), experiencing a substantial price increase post-announcement. “Avalanche saw a price increase of more than 4x following the ‘Project Guardian’ news,” Layergg noted.
They concluded, “If a partnership with BlackRock proceeds, more ‘Big partnerships’ will naturally follow.”
At press time, APT traded at .59, up 87% over the past five weeks.
Ondo Finance Joins BlackRock Tokenized Fund As Inflows Surpass $160M
BlackRock, one of the largest asset managers globally, has witnessed notable success with its newly launched tokenized money-market fund, BUIDL. The fund, which records shared ownership on the Ethereum (ETH) blockchain, has attracted over 0 million in just one week since its debut.
BlackRock’s BUIDL Fund
According to a Bloomberg report, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) primarily invests in cash, US Treasury bills, and repurchase agreements. The fund rewards its holders with a cryptocurrency, BUIDL, valued at per token.
Shareholders can transfer these tokens to other validated addresses using digital wallets approved by Securitize, BlackRock’s partner for the investment vehicle. The tokenized fund serves several key use cases, including treasury management for crypto companies, support for derivatives of Treasury bills, and acting as collateral for borrowing and trading, thus providing an alternative to stablecoins.
It is worth noting that Securitize Markets, an SEC-registered alternative trading system, plays a critical role in facilitating the transfer of tokens between market participants.
While the SEC has recently increased its scrutiny of Ethereum’s native token, ETH, Securitize CEO Carlos Domingo emphasizes that the investigations should be separate from the underlying blockchain infrastructure. Domingo also highlights the battle-tested nature of the public Ethereum blockchain, which provides a “robust foundation” for tokenization activities.
As previously reported by our sister website, Bitcoinist, BlackRock has emerged as an advocate for cryptocurrencies and tokenization within mainstream financial institutions. Chairman and CEO Larry Fink believes every financial asset will eventually be tokenized.
The company’s iShares Bitcoin Trust (IBIT) has already attracted more than billion in inflows since its launch as an exchange-traded fund (ETF) in January. With the BUIDL fund’s launch, BlackRock continues to demonstrate its willingness to explore new digital asset solutions.
Ondo Finance To Transfer Million In Assets To BlackRock
Ondo Finance, a platform specializing in tokenized real-world assets (RWA), has moved million worth of assets to BlackRock’s BUIDL fund. This strategic move enables Ondo Finance to facilitate instant settlements for its US Treasury-backed token, OUSG.
This makes Ondo Finance a major participant in the BUIDL ecosystem. According to on-chain researcher Tom Wan, it currently holds million worth of BUIDL tokens, which, in addition to those above million, will result in a substantial 0 million worth of BUIDL tokens.
The researcher noted that this collaboration further strengthens the tokenized US Treasury market, with the potential to reach billion in value. In its announcement, the team behind the Ondo Finance platform summarized:
We’re excited to see BlackRock embracing securities tokenization with the launch of BUIDL, especially its broad cooperation with ecosystem participants. Not only does this further validate our original concept of a tokenized US Treasury fund, but it also bolsters our thesis that tokenization of traditional securities on public blockchains represents the next major step in the evolution of financial markets.
At the time of writing, the native token of Ondo Finance, ONDO, is trading at .909, exhibiting a surge of over 4% within the past 24 hours. This positive momentum adds to its impressive price uptrend of 115% recorded over the past 30 days.
Featured image from Shutterstock, chart from TradingView.com