BlackRock’s (NYSE: BLK) latest global outlook makes one thing clear: crypto is no longer being treated as a speculative side bet, but as infrastructure quietly reshaping how money moves. In its 2026 outlook, the world’s largest asset manager describes digital assets, especially stablecoins, as infrastructure underpinning payments and settlement - effectively the financial system’s plumbing. Instead of focusing on price action or hype cycles, BlackRock’s framing centers on function. The firm argues that ...

Group 1 - BlackRock, Inc. has crossed the legal threshold of 5% for direct voting rights and equivalent financial instruments in Umicore, with a total holding of 5.20% as of December 22, 2025 [2][8] - The breakdown of BlackRock's holdings includes 4.39% in direct voting rights and 0.81% in equivalent financial instruments [3] - The notification was made on December 23, 2025, following the acquisition or disposal of voting securities or voting rights [8] Group 2 - Umicore is a global advanced materials and recycling group, focusing on transforming precious and critical metals into functional technologies [6] - The company operates four business groups: Catalysis, Recycling, Specialty Materials, and Battery Materials Solutions, addressing resource scarcity and the need for clean technologies [7] - Umicore generated revenues of €1.8 billion (turnover of €8.7 billion) in the first half of 2025, with a strong emphasis on clean mobility and recycling [9]

Group 1 - BlackRock deposited 2,292 Bitcoins valued at $199.8 million and 9,976 Ethereum valued at $29.23 million into Coinbase Prime [1]

Core Viewpoint - BlackRock is considering collaboration with Gulf Cooperation Council (GCC) sovereign wealth funds to increase investments in Asia [1] Group 1: Company Overview - BlackRock is the world's largest asset management company with assets under management totaling $13.52 trillion [1] - The company has been actively expanding in the Gulf region over the past two years, establishing a regional headquarters in Riyadh, Saudi Arabia in 2023 [1] Group 2: Investment Strategy - BlackRock aims to leverage a $5 billion anchor investment from the Saudi Public Investment Fund (PIF) to create an investment platform [1] - In 2024, BlackRock received approval to commence commercial operations in Abu Dhabi and plans to expand its teams in Riyadh and Dubai [1] - The company is also opening offices in Kuwait and Qatar as part of its growth strategy in the region [1]

Group 1: Acquisition of Global Ports - A $22.8 billion deal for a portfolio of global ports, including strategic assets near the Panama Canal, is at risk of collapse due to demands from China's COSCO Shipping Holdings for a majority stake in the acquisition [2][3][9] - The original agreement involved the BlackRock-MSC consortium acquiring 80% ownership of CK Hutchison's global port portfolio and 90% of the Panama Ports Company, but the insistence on a controlling interest by COSCO has created an impasse [3][9] - The U.S. government is reportedly opposing Chinese control of the Panama Canal, citing national and economic security concerns, which adds to the geopolitical tension surrounding the deal [3] Group 2: Public Transport Initiative in Spain - Spain's Transport Minister announced a new nationwide public transport card projected to cost the state €1.37 billion, aiming for implementation by January 2026 [4] - The initiative will allow users to travel across various modes of transport for a flat monthly fee of €60, with a reduced fee of €30 for individuals under 26 [4] Group 3: Currency Market Movements - The New Zealand Dollar increased by 0.84% to $0.5842, reaching its highest level since October 6, driven by positive economic growth data and reassessment of the Reserve Bank of New Zealand's monetary policy [5] - The Australian Dollar rose 0.6% to $0.6695, marking its highest point since September 17, as traders exhibit a "risk-on" sentiment ahead of a Federal Open Market Committee meeting [6]

Group 1 - BlackRock reduced its stake in Hong Kong Exchanges and Clearing (00388) by 98,029 shares at a price of HKD 398.0933 per share, totaling approximately HKD 39.0247 million [1] - After the reduction, BlackRock's latest shareholding stands at approximately 63,371,100 shares, representing a holding percentage of 4.99% [1]

Core Insights - The iShares Core S&P U.S. Value ETF (IUSV) was launched on July 24, 2000, by BlackRock Inc. and is managed by BlackRock Fund Advisors, focusing on value stocks in the large- and mid-cap segments of the U.S. equity market [1] Company Overview - BlackRock Inc. is the parent company of the iShares Core S&P U.S. Value ETF, which provides investors with exposure to value stocks [1] Investment Strategy - The ETF targets large- and mid-cap value stocks, which are typically characterized by lower price-to-earnings ratios and higher dividend yields compared to growth stocks [1]

Group 1 - Bitcoin's price has been volatile, with recovery attempts facing challenges, and demand from ETF investors showing inconsistency [1][2] - BlackRock has positioned its spot Bitcoin ETF as a key investment theme for 2025, indicating a long-term commitment despite short-term price fluctuations [2][3] - Year-to-date net inflows into BlackRock's Bitcoin ETF are approximately $29.6 billion, with cumulative inflows reaching $62.5 billion since its launch, reflecting sustained institutional interest [3] Group 2 - Bitcoin ETFs have experienced outflows on about half of the trading days in the past month, indicating a cooling demand among short-term investors [4] - On a recent Monday, Bitcoin ETFs collectively saw $142 million in net outflows, highlighting investor caution amid price uncertainty [5] - Despite mixed spot demand, perpetual futures positioning is expanding, with open interest rising from 304,000 BTC to 310,000 BTC, a 2% increase [6][7] Group 3 - Funding rates for Bitcoin have increased from 0.04% to 0.09%, suggesting renewed leveraged long positioning as traders prepare for potential year-end movements [7] - Bitcoin is currently trading near $87,400, just below the $88,210 resistance level, with technical indicators suggesting potential for short-term gains if current levels are defended [8]

Core Insights - BlackRock's inclusion of its Bitcoin ETF (IBIT) in its top three investment themes for 2025 signifies a major shift in the perception of Bitcoin within global financial institutions, moving beyond a single asset recognition [1][3] - Despite Bitcoin experiencing a decline of over 4% this year, the strong institutional interest is highlighted by IBIT attracting over $25 billion in net inflows since the beginning of the year, ranking sixth among all ETF categories for new investments [1][3] - BlackRock's strategy of promoting IBIT alongside traditional assets like short-term U.S. Treasury ETFs (SGOV) and top U.S. equity ETFs (TOPT) indicates a growing acceptance of crypto assets as comparable to traditional safe-haven assets and blue-chip equities [1][3] Market Dynamics - Market observers note that BlackRock's unconventional marketing strategy is not merely aimed at short-term profits, as they have higher-fee products like gold ETFs (IAU) that are expected to perform better than Bitcoin in 2025 [2][4] - This shift from "performance-driven" to "belief-driven" investment strategies suggests that cryptocurrencies are evolving from speculative assets to standardized financial instruments [2][4] - BlackRock's positioning of Bitcoin alongside cash and mainstream stocks enhances market liquidity confidence and may alter the perceptions of traditional investors who are still on the sidelines [2][4] Future Outlook - The year 2025 is anticipated to be a pivotal year for the mainstream adoption of crypto assets, with a focus on the long-term strategic hedging value rather than short-term price fluctuations [2][4]

（来源：吴说） 吴说获悉，据 SoSoValue 数据，昨日（美东时间 12 月 22 日）比特币现货 ETF 总净流出 1.42 亿美元， 持续 3 日净流出。昨日单日净流入最多的比特币现货 ETF 为贝莱德 (Blackrock） ETF IBIT，单日净流 入为 599.81 万美元，目前 IBIT 历史总净流入达 624.97 亿美元。 ...