Public keys are a weekly summary. decryption Track major publicly traded crypto companies. This week, BlackRock launches its new most profitable ETF, S&P Global joins in, and Coinbase stakes its claim to New York.
Bitcoin rules at Blackrock
BlackRock’s iShares Bitcoin Trust has become the asset manager’s most profitable ETF with $12 trillion in annual fee income. As of Thursday’s close, the fund had $97 billion worth of assets under management, according to iShares.
This means that the 21-month-old ETF is already generating more returns than products that have been trading for 25 years, such as the iShares Russell 1000 Growth ETF or the iShares MSCI EAFE ETF.
Even without Friday’s data, inflows into IBIT were already higher than last week, at $2.5 billion versus $1.8 billion.
Analysts say institutional flows will limit recent increases in market volatility, despite news that President Donald Trump plans to impose “significant” new tariffs on imports from China.
This bullish honorific did little to prevent IBIT stock from sliding into the red like most other stocks on Friday. Just before Friday’s close, IBIT was trading at $65.85, after falling 4% on the day.
BlackRock CEO Larry Fink foresaw exactly the situation that analysts believe is responsible for Bitcoin’s recent rally during an appearance on Legends Live@City in August.
“You own Bitcoin because you’re afraid of your currency depreciating,” he said, alluding to downside trading in which Bitcoin is exchanged for gold as a hedge against currency dilution. “I became a believer,” he added.
S&P Crypto Mixer
There are crypto assets, publicly traded crypto companies, and now the S&P Global Index, which combines both.
Earlier this week, S&P Global debuted its first hybrid “Digital Market 50” index, which combines cryptocurrencies and crypto-related stocks. At launch, the new benchmark will track 35 publicly traded blockchain-related companies and 15 cryptocurrencies in the S&P Cryptocurrency Broad Digital Market Index.
The Broad Digital Market Index includes: Bitcoin, Ethereum, XRP, BNB, Solanaand tron.
The fund will provide asset managers with one fund to gain exposure to many of the largest assets related to cryptocurrencies. It also saves you the trouble of picking a winner.
“Cryptocurrency and the broader digital asset industry have moved from the margin to a more established role in global markets,” said Cameron Drinkwater, chief product operations officer at S&P Dow Jones Indices, adding that the new index suite “provides market participants with a consistent, rules-based tool to evaluate and gain exposure.”
Excelsior, staking
Coinbase’s staking service is truly on the rise.
Cryptocurrency exchanges this week ended a years-long battle with state regulators to offer crypto staking services to New York residents.
It is not entirely clear how this happened, as representatives from the New York State Department of Financial Services, which regulates the state’s cryptocurrency industry, did not immediately respond to inquiries from the New York State Department of Financial Services. decryption As to when an agreement was reached with Coinbase regarding staking, or whether the crypto exchange had to fulfill any obligations in order to reach such an agreement.
A Coinbase spokesperson also declined to comment beyond what the company has already said publicly in a press release.
According to the company, staking will be available on Ethereum, Solana, and Cosmos. There is no indication yet that other crypto exchanges or companies will offer staking to New York residents.
Gemini still clearly states in its customer agreement, which was last updated in August, that New York residents cannot access its staking. Kraken’s Bitcoin staking still excludes New York and a few other states. Cryptocurrency exchange Bitstamp, which was acquired by US-based Robinhood earlier this year, has limited its staking services to Europe. The US trading platform still offers Ethereum and Solana staking, but it is not available in New York.
So, for the time being, Coinbase appears to have the crypto staking market in New York all to itself.
Other keys
More about Morgan Stanley: Morgan Stanley has opened its doors to all high-net-worth clients to access Bitcoin, Etherem, and Solana through its E*Trade platform.
minor surge: Bitcoin miners saw their stock soar earlier in the week after BTC hit a new all-time high of over $125,000.
