NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of BBB- to BlackRock Private Credit Fund's ("BDEBT" or "the company") $50 million, 5.78% senior unsecured notes due December 17, 2028 and its $150 million, 6.14% senior unsecured notes due October 8, 2030. The rating Outlook is Stable. Funds will be used for general corporate purposes. Key Credit Considerations The rating is supported by BDEBT's ties to BlackRock, Inc. (NYSE: BLK) and its $360 billion Private Financing Solutions ("PFS†...

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Welcome to ETF Edge, your go-to place for all things exchange traded funds. I am your host Sema Modi in for Dominic Chu. It has been a volatile fourth quarter kicking off with plenty of potential catalyst to push the markets in either direction.Joining me now is Christian Magun, CEO of Amplify ETFs along with Jay Jacobs, US head of equity ETFs at BlackRock. Gentlemen, welcome. And let's start big, Christian, because you noted that the fourth quarter is historically a little bit rocky, but it can finish high ...

Core Insights - The iShares Bitcoin Trust (IBIT) is poised to become the fastest ETF in history to reach $100 billion in assets under management (AUM), having already surpassed $98 billion since its launch in January 2024, driven by strong institutional demand and a recovering Bitcoin market [1][2]. Institutional Adoption - IBIT has emerged as a key vehicle for institutional exposure to Bitcoin, attracting hedge funds, asset managers, and family offices seeking regulated access to digital assets, surpassing $10 billion in AUM shortly after launch and reaching over $80 billion within a year [3]. - The fund's success is attributed to BlackRock's strong global brand and its ability to attract long-term institutional capital [3]. Trading Activity - IBIT ranks among the top 10 most-traded ETFs in the U.S., with daily trading volumes comparable to major ETFs like SPY and QQQ, appealing to risk-conscious investors due to its liquidity and transparency [4]. - The ongoing rally in Bitcoin's price, influenced by supply-demand dynamics and macroeconomic uncertainty, has further fueled the fund's growth [4]. Mainstream Integration - The rapid growth of IBIT signifies a pivotal moment in the integration of digital assets into traditional finance, effectively validating Bitcoin as a legitimate asset class [5]. - Analysts suggest that reaching the $100 billion milestone will accelerate institutional adoption and may lead to the development of new digital asset products, including multi-crypto ETFs [6]. Market Environment - The current market conditions, characterized by rising institutional inflows, global optimism, and regulatory clarity, create an ideal environment for IBIT's growth, potentially redefining perceptions of the intersection between digital assets and traditional finance [7]. - As IBIT approaches this historic record, it solidifies BlackRock's leadership in digital asset innovation and indicates a more mainstream future for Bitcoin [8].

Core Insights - BlackRock's technology arm has partnered with fintech OTCX to digitize over-the-counter derivatives trading, moving away from traditional voice-based methods [1][3][11] Group 1: Partnership Details - The multi-year partnership will integrate OTCX's electronic marketplace with BlackRock's Aladdin system, allowing users to manage complex derivatives trades without phone calls [2][6] - OTCX aims to provide market participants with more choices, lower costs, and efficient workflows in a historically fragmented market [4][10] Group 2: Market Context - The OTC derivatives market, valued at $700 trillion, still relies heavily on phone calls and spreadsheets for trade matching despite regulatory efforts [3][9] - The integration aligns with regulatory changes like the EMIR Refit in the EU and the CFTC's swap-reporting rules in the US, which demand improved data quality and compliance [7][10] Group 3: Technological Advancements - The partnership enhances Aladdin's connectivity to various trading venues, expanding its reach into opaque derivatives markets [6][10] - Other technology vendors are also innovating in the post-trade space, indicating a broader trend towards electronification in OTC derivatives [8][9]

Core Insights - The U.K. will allow asset managers to offer crypto exchange-traded notes (ETNs) to retail investors starting October 8, 2023, lifting a ban that has been in place since 2021 [1][8] - A survey indicates that 50% of U.K. investors aged 18-24 are open to investing in crypto ETNs, reflecting strong demand among younger investors [1][4] Industry Developments - The lifting of the FCA embargo on crypto ETNs provides access to the London Stock Exchange, one of the largest securities exchanges globally [2] - Blackrock is expected to be among the first to list a Bitcoin ETN in London, with other firms like Bitwise, WisdomTree, and 21Shares likely to follow [2] Investor Sentiment - The IG survey shows that 30% of adults in the U.K. are open to investing in crypto ETNs, with the figure rising to 50% for those aged 18-24, significantly higher than the current crypto ownership rate of approximately 12% [4] - The average value of crypto holdings among U.K. investors is reported to be £1,842 [4] Tax Considerations - The potential tax advantages of investing in regulated crypto products may attract investors, as deposits in stocks and shares ISAs can be sheltered from capital gains tax up to £20,000 per year [6] - Self-Invested Personal Pension (SIPP) accounts also offer government contributions that can offset income tax, making them appealing for crypto investments [6] Key Advantages - Among those likely to invest in crypto ETNs, 19% cited the ability to hold crypto within tax-efficient wrappers as a significant advantage [9]

Core Insights - The Bitcoin options market has expanded significantly, now influencing the price of bitcoin itself, with open interest reaching nearly $80 billion, up from around $8 billion at the start of the year [1][3] - Options activity has transitioned from a secondary signal to a primary input for market participants, providing insights into future price movements rather than just current prices [4] Market Dynamics - The growth in options is driven by two main platforms: Deribit, favored by crypto-native traders for its short-dated options, and BlackRock's iShares Bitcoin Trust (IBIT), which has quickly gained traction among institutional investors [5] - The trading profiles differ, with Deribit attracting hedge funds seeking volatility and IBIT appealing to pension funds and asset managers looking for long-term exposure [6] Volatility Trends - Implied volatility has trended lower, indicating a potential complacency in the market, but the spread between implied and realized volatility suggests that option sellers are still earning typical premiums [7] - The divergence in volatility between bitcoin and ether indicates differing market dynamics, with ether's implied volatility remaining firmer due to staking and DeFi flows, while bitcoin's has decreased due to selling pressure from miners [8] Strategic Importance - Crypto options have evolved into a vital market signal, with traders and risk managers increasingly monitoring both Deribit for short-term risks and IBIT for long-term institutional strategies [9]

Core Insights - LG Electronics Inc. is moving forward with its initial public offering (IPO) for its India arm, attracting interest from sovereign wealth funds from Abu Dhabi, Norway, and Singapore [1][2] - The IPO is valued at $1.3 billion, with potential anchor investors including Abu Dhabi Investment Authority, Norges Bank Investment Management, GIC Pte., BlackRock Inc., and Fidelity International Ltd. [2][3] - The IPO process has faced delays due to market volatility and global trade uncertainties, with the current valuation of the India unit at $8.7 billion, significantly lower than the $15 billion target set in December [4] Investment Landscape - Major Indian fund managers such as SBI Mutual Fund, ICICI Prudential Asset Management Co., and Nippon Life India Asset Management Ltd. are also expected to participate in the IPO [3] - October is projected to be a record month for Indian IPOs, with total proceeds expected to exceed $5 billion, indicating strong market confidence despite external challenges [5] - LG began taking IPO orders from anchor investors on October 6 and plans to list its shares on October 14 [5]

Group 1 - As of September 30, BlackRock's long position in ZTE Corporation's H-shares decreased from 7.96% to 6.80% [1]

格隆汇10月6日｜香港交易所信息显示，贝莱德在工商银行的持股比例于09月30日从4.92%升至5.14%。 ...