Extremely bullish news... Lets just have a moment of silence for the bears. ......... .................. .......................................................... Ok now for the good news... BlackRock Offers Bitcoin Investing to Big Institutional Clients New trust seeks to track price of the biggest cryptocurrency Asset manager ‘still seeing substantial interest’ from clients By Silla Brush August 11, 2022 at 7:00 AM CDT From Follow the authors @sabrush + Get alerts for In this article BLK BLACKROCK INC 729.45 USD +4.24+0.58% BlackRock Inc. is offering its first-ever investment product directly in Bitcoin, marking a significant move into crypto markets by the world’s largest asset manager. The new private Bitcoin trust seeks to track the price of the biggest cryptocurrency and responds to demand from large institutional clients seeking exposure to the asset even after its price plunged this year, New York-based BlackRock said in a statement Thursday. “Despite the steep downturn in the digital-asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities,” the company said. Bitcoin has lost about half its value in 2022, while the collapse of the Terra ecosystem and hedge fund Three Arrows Capital have raised questions about the resilience of the market and prompted heightened regulatory scrutiny. The announcement of the new Bitcoin trust is the second major move into digital assets in the past week by BlackRock, which manages $8.5 trillion, and shows how Wall Street’s biggest players are deepening their involvement in an industry that only a few years ago was criticized for being susceptible to fraud. BlackRock last week unveiled a high-profile partnership with crypto exchange Coinbase Global Inc. to allow institutional traders the ability oversee their Bitcoin investments alongside other portfolio assets such as stocks and bonds. The move sent Coinbase’s shares surging, with analysts concluding that the venture was a validation of digital assets and the crypto industry more broadly. Read more: BlackRock Teams Up With Coinbase in Crypto Market Expansion For BlackRock Chief Executive Officer Larry Fink, the Bitcoin trust is also a shift from four years ago, when he said he hadn’t heard from any client seeking exposure to crypto. In March of this year, Fink said the firm was studying the growing importance of digital assets and stablecoins and how they can be used to help clients. And the following month, the company joined a group of investors in Circle Internet Financial Ltd., the issuer of USD Coin, and said it would seek to serve as a primary manager of the stablecoin’s cash reserves.
Prolly nothing... “Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets,” https://financialpost.com/pmn/busin...es-spot-bitcoin-private-trust-for-u-s-clients BlackRock launches spot bitcoin private trust for U.S. clients Aug 11, 2022 • 16 minutes ago • 1 minute read • Join the conversation BlackRock Inc, the world’s biggest asset manager, has launched a spot bitcoin private trust for institutional clients in the United States, according to a blog post on its website. BlackRock launches spot bitcoin private trust for U.S. clients The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said. “Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets,” the company said https://www.blackrock.com/institutions/en-us/insights/bitcoin-private-trust. The move comes a week after cryptocurrency exchange Coinbase Global Inc said it had partnered with BlackRock to provide its institutional clients with access to crypto trading and custody services. The latest developments underscore how traditional institutions including pension funds, hedge funds and banks have been pushing into crypto assets lately, wagering the alternative asset class is here to stay. Even as, the crypto sector has been battered by a slump in asset prices as investors fled risky assets amid geopolitical turmoil, inflation and worries of an impending recession.
Alright, looks like Crypto may moon again within a month. How can I tell? Because this morning I used my monthly dividends to bet on more fire-sale REITs. Canadian REITs won't pay out distributions again until the middle of December. That means, for not buying more Ether today, I will get punished by watching it run away again... lol But, if market goes side-ways for a while REITs at 9% APY beat Ethereum staking at 3.3% APY!