每经AI快讯，7月30日，香港交易所信息显示，贝莱德在李宁的持股比例于07月24日从5.01%降至 4.61%。 ...

每经AI快讯，7月30日，香港交易所信息显示，贝莱德在理想汽车-W的持股比例于07月24日从5.06%降 至4.94%。 ...

香港交易所信息显示，贝莱德在理想汽车-W的持股比例于7月24日从5.06%降至4.94%。 ...

Group 1 - BlackRock purchased 1.2624 million shares of China International Capital Corporation (CICC) on July 22, spending HKD 25.5245 million [1] - BlackRock had been buying and selling CICC shares since June, indicating ongoing interest in the stock [1] - Analyst Ge Yuxiang from Zhongtai Securities noted a significant contraction in the A-H share price difference for brokerages, suggesting a shift in investor strategy from trading to holding [1] Group 2 - Multiple non-bank analysts maintain an optimistic outlook on the future performance of the brokerage sector [2]

贝莱德策略师：稳定币监管法规可能支撑美元 金十数据7月29日讯，贝莱德策略师在一份报告中表示，美国最新出台的稳定币监管立法可能有利于加 强美元的主导地位。本月早些时候，美国总统特朗普签署了《Genius法案》，该法案旨在为稳定币建立 监管框架。策略师指出："这项法规有望通过打造一个基于代币化美元的国际支付生态系统，进一步巩 固美元的主导地位。"策略师还指出，对于新兴市场用户来说，稳定币相比本国波动剧烈的货币，将提 供一种更便捷的美元获取方式。 ...

Core Viewpoint - The article discusses the recent developments surrounding Li Ka-shing's business dealings, particularly his port acquisition strategy, and the implications of his actions in the context of geopolitical tensions and national interests [1][3][6]. Group 1: Business Strategy and Developments - Li Ka-shing's company, CK Hutchison Holdings, is inviting major strategic investors from mainland China to join as important members of the consortium for the port acquisition, indicating a shift from a solely American-controlled asset to a shared one [1][3]. - The acquisition of ports has historically been contentious for Li Ka-shing, as seen during his initial acquisition of the Panama port, which faced significant media scrutiny and accusations of ulterior motives [3][4]. - In a recent deal, BlackRock agreed to purchase 52 ports from CK Hutchison for $22.8 billion, a price 30% above market value, allowing the company to secure over $200 billion in cash while distancing itself from geopolitical conflicts [6]. Group 2: Personal and Social Implications - Li Ka-shing's actions reflect a desire to integrate more closely with mainland China, as evidenced by his family's educational choices and efforts to promote Mandarin among his children [6][8]. - His refusal to name a university after himself, despite suggestions, indicates a preference for being recognized in the hearts of the people rather than through personal accolades, suggesting a deeper connection to community values [8].

AI播客：换个方式听新闻 下载mp3 音频由扣子空间生成 华尔街正逐步掌控比特币的定价权。曾经由离岸交易平台和散户热情主导的全球最大加密货币，如今正 越来越多地在美国金融体系内部被定价和操盘。 通过挂钩ETF和指数的交易所期权市场迅速扩张，从散户到不断涌入的机构投资者，正在重新定义比特 币的交易方式，包括从短线对冲到波动率策略，而这一切都无需直接接触底层资产。曾经属于加密原生 圈层的"颠覆性实验"，如今正被传统金融重构为标准化操作模板。 流动性带来合法性，合法性吸引更多资金 这场变革的核心，是贝莱德（BlackRock）旗下的iShares比特币信托基金（IBIT）。作为当前全球规模 最大的比特币ETF，IBIT管理资产已达860亿美元，同时也带动了一个活跃到令人震惊的期权市场，行 业内部甚至开始呼吁监管机构放宽持仓限制。 IBIT相关期权的未平仓合约总量今年以来已增长三倍，达到约340亿美元，标志着该基金已成为加密市 场风险定价的关键引擎。近期每日交易量平均达40亿美元，超越信用市场和新兴市场的旗舰基金，仅次 于美股、黄金和小盘股ETF中最具流动性的产品。 Asym 500创始人Rocky Fishman表 ...

Report Industry Investment Rating No information provided in the report. Core Viewpoints of the Report - Last week in the US, 37 new ETF products were issued, with an acceleration in issuance, including products that both increase and decrease concentration. The factor rotation ETF had inflows of over $1 billion, and Bitcoin products outperformed Ethereum products. In May 2025, the total non - money public funds in the US increased, and from July 2nd to 9th, domestic stock funds had outflows while bond products had inflows [2]. Summary According to the Table of Contents 1. US ETF Innovation Products: Products with Increased and Decreased Concentration Issued Simultaneously - 37 new products were issued last week, involving series products from multiple companies. Direxion, Leverage Shares, etc. expanded single - stock leveraged and inverse products. WEBs issued the Defined Volatility series products. Invesco and Janus Henderson issued bond products. Crossmark issued large - cap growth and value ETFs, and Defiance issued an AI and power infrastructure ETF. Roundhill expanded its weekly leveraged + dividend ETFs [5][6][7]. - Xtrackers issued an industry - diversified product, SPXD, which tracks the S&P 500 Diversified Sector Weight Index and distributes weights based on sub - industry revenues. Its first - largest weighted stock is Berkshire Hathaway, with a weight of about 3.7%, and the weights of other stocks are below 2%. Global X issued the PureCap series products to address US regulatory restrictions on ETF shareholding ratios [8][11][12]. 2. US ETF Dynamics 2.1 US ETF Funds: Factor Rotation ETF Inflows Exceeded $1 Billion - Last week, stock ETFs had inflows of over $16 billion, with similar inflows for domestic and international stocks. Bond ETFs had more domestic inflows than international ones, and Bitcoin and commodity ETFs continued to have inflows. The factor rotation products had single - week inflows of over $1 billion and their current scale has exceeded $20 billion. The top out - flowing products were mainly S&P 500 ETFs from State Street and BlackRock [13][14]. 2.2 US ETF Performance: Bitcoin Products Outperformed Ethereum - Since the beginning of this year, the cryptocurrency market has attracted attention. The total scale of relevant US ETFs has exceeded $150 billion. The BlackRock Bitcoin ETF is close to $90 billion, and the BlackRock Ethereum ETF exceeds $10 billion. Bitcoin has a year - to - date increase of about 25%, while Ethereum products have an increase of less than 10%, and BlackRock's products have relatively good performance [17]. 3. Recent Capital Flows of US Ordinary Public Funds - In May 2025, the total non - money public funds in the US were $21.91 trillion, an increase of $0.85 trillion from April 2025. The S&P 500 rose 6.15% in May, and the scale of domestic US equity products increased by 5.49%, slightly lower than the stock increase. From July 2nd to 9th, domestic US stock funds had total outflows of about $7.5 billion, and bond product inflows expanded to $7.58 billion [21].

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - The industry and market are increasingly focusing on multi - asset ETFs as an innovative product offering one - stop asset allocation solutions. The report explores the development of US multi - asset ETFs to provide insights for domestic market innovation [2][11]. - US multi - asset ETFs have shown significant growth in recent years, with distinct characteristics such as strong head - effects in scale, rapid development of actively managed products, and extensive application of FOF - type products [2][20][31]. - The development of US multi - asset ETFs offers important lessons for the domestic market, including deepening multi - asset index development, diversifying allocation strategies, and broadening underlying asset investment tools [5]. 3. Summary by Directory 3.1 Two Action Plans Mentioned, Multi - asset ETFs Are Approaching - The "Public Offering Plan" emphasizes increasing the creation of asset - allocation products to meet the needs of investors with different risk preferences and promote the coordinated development of equity and fixed - income investments [8]. - The "Index Plan" proposes researching and launching innovative index products such as multi - asset ETFs and expanding the underlying asset categories of ETFs. Recent releases of multi - asset indices indicate growing market attention [10][11]. 3.2 Analysis of the Development History and Current Situation of US Multi - asset ETFs - In 2005, BlackRock issued the world's first multi - asset ETF in Canada. In 2006, Invesco launched the first US multi - asset ETF. After the 2008 financial crisis, multi - asset ETFs evolved rapidly [13][14]. - As of March 31, 2025, there are 181 multi - asset ETFs in the US market, with a total scale of $36 billion, ranking first globally. However, their scale accounts for only 0.35% of all US ETFs, indicating significant growth potential [18]. - The top three fund managers in terms of management scale are BlackRock, Pacer Advisors, and First Trust Portfolios, with a combined scale ratio of 45.35%. The top ten multi - asset ETFs in terms of fund scale account for 51.26% of the total scale [22][25]. - Actively managed multi - asset ETFs have developed rapidly. As of March 31, 2025, 146 out of 181 multi - asset ETFs are actively managed, accounting for 80.66%. Their issuance has increased explosively since 2021 [31]. - FOF - type products are widely used in US multi - asset ETFs. As of March 31, 2025, 73 out of 181 multi - asset ETFs are marked as FOF - type, accounting for nearly 40%, with a fund scale of $13.041 billion, about 36% of the total [34]. - The expense ratios of US multi - asset ETFs vary significantly. The average expense ratio of all 181 multi - asset ETFs is 0.80%, with actively managed and passively managed products having average expense ratios of 0.83% and 0.69% respectively. The expense ratio has generally remained low since 2016 [5][40]. 3.3 Exploration of the Strategy Classification of US Multi - asset ETFs - **Core Allocation Type**: This is the most common strategy type, further divided into target - risk, macro - strategy, and subjective - allocation subtypes. Target - risk type aims to meet pre - designed risk metrics, with 28 products and a scale of $8.176 billion. Macro - strategy type adjusts asset allocation based on macro - economic analysis, with 12 products and a scale of $0.937 billion. Subjective - allocation type gives investment managers high freedom, with 57 products and a scale of $10.402 billion [44][47][51]. - **Trend - Following Type**: These ETFs use momentum factors or trend - following models for asset allocation. As of March 31, 2025, there are 26 products with a scale of $7.193 billion, accounting for about 20% of the total [54][55]. - **Target - Dividend Type**: These ETFs focus on interest (dividend) income, with 22 products and a scale of $6.384 billion. The average historical dividend rate of 17 products issued before 2024 is 7.20%, much higher than other types [58][63]. - **Option - Strategy Type**: These ETFs add option - based derivatives to underlying assets to change the risk - return characteristics. As of March 31, 2025, there are 36 products with a scale of $2.907 billion, accounting for 8.08% of the total [63][64]. 3.4 Suggestions and Insights - **Investor Suggestions**: Different types of investors can choose corresponding multi - asset ETFs. For example, risk - sensitive investors can choose target - risk type; policy - sensitive investors can choose macro - strategy type; investors seeking stable cash flow can choose target - dividend type; those preferring quantitative strategies can choose trend - following type; and investors interested in alternative strategies can choose option - strategy type [68][69][70]. - **Insights for the Domestic Market**: The domestic market should prioritize using existing multi - asset indices as tracking targets, deepen the development of multi - asset indices, focus on stable strategies and diversify allocation strategies, and broaden underlying asset investment tools to promote the development of multi - asset ETFs [72][73][75].

智通财经7月28日电，香港交易所信息显示，贝莱德在中国人寿的持股比例于07月23日从5.91%升至 6.25%。 ...