JEFF HAYNES/AFP via Getty ImagesWritten by Sam Kovacs Introduction In a remarkable display of market resilience, the S&P 500 has soared to unprecedented heights, closing at 4,839.81 last Friday. BloombergThis not only surpasses the previous record close set on January 3, 2022, but also shatters a 512-day streak without a record high—a noteworthy event given the historical significance attached to such milestones. History has often seen the S&P 500 climb after setting new highs. In fact, in the year fol ...

On the fifth day of bitcoin exchange-traded funds, the market gave to us, three funds with more than one billion dollars in assets under management out of the 11 that won regulatory approval for a stock market listing. Despite being slapped with more than $2.2 billion in net outflows, the Grayscale Bitcoin Fund (GBTC) remains the largest bitcoin ETF on the market by a significant margin with $23 billion in AUM. In second place is BlackRock Inc (NYSE:BLK)'s iShares Bitcoin trust (IBIT) with $1.2 billion in A ...

TORONTO, Jan. 19, 2024 (GLOBE NEWSWIRE) --  BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE:BLK), today announced the January 2024 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly basis. Unitholders of record of a fund on January 26, 2024 will receive cash distributions payable in respect of that fund on January 31, 2024. Details regarding the "per unit" distribution amounts are as fo ...

Jamie Dimon, chief executive at JPMorgan Chase & Co. JPM, +0.11%, said he still sees no value in bitcoin and is done with talking about the crypto, after the first several bitcoin exchange traded funds debuted in the U.S. last week.  “I hope this is the last time I’m talking about this [bitcoin] with CNBC, so help me god,” Dimon said in an interview with the news channel on Wednesday.  A number of Wall Street heavyweights, such as BlackRock BLK, -0.77% and Fidelity, last week launched their bitcoin BTCUS ...

BlackRock Inc.’s plan to buy major private-equity firm Global Infrastructure Partners for $12.5 billion will help the asset-management giant’s stock reach the $1,000 mark, TD Cowen analyst Bill Katz said in a fresh upgrade of the stock.Katz said Tuesday he sees a “pathway toward $1,000” for BlackRock’s BLK, -0.61% stock price as he upgraded the fund manager to outperform from market perform and raised its 12-month price target to $938 a share from $819 a share.The upgrade comes just a few days after BlackRo ...

Freshly minted bitcoin exchange-traded funds are seeing exceptionally large trading volumes since last week’s landmark debuts from BlackRock Inc (NYSE:BLK), Grayscale, Fidelity and VanEck, among others. Bloomberg data shows a total of $10 billion in trading volumes across 10 ETF products in the first three trading days, an “insane” volume, according to Bloomberg’s ETF seer Eric Balchunas. He stated on social media: “Let me put into context how insane $10b in volume is in first 3 days. There were 500 ETFs la ...

Ivan Zhaborovskiy Thesis The week that ended January 12 was an exciting one, with significant shifts in the asset management industry. On one hand, Bitcoin ETFs finally got the green light from the regulators, with a plethora of funds coming to market via numerous asset managers. Bitcoin is an expression of the new digital economy, and via this launch, it has established itself as a portfolio asset class that cannot be ignored anymore. On the other hand, 'old-school' asset classes like infrastructure, the c ...

Inflation could prove harder to conquer than many people think, Larry Fink says. The BlackRock CEO expects US economic growth to pick up if the Fed cuts rates this year. Fink says bitcoin is used for criminal activities, but has merits and serves as a store of value. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. ...

Bitcoin (BTC) suffered further selling pressure after the long-awaited approval in the US of spot-bitcoin exchange-traded funds (ETFs) led to a ‘sell-the-news’ situation for the world’s largest cryptocurrency. Following a surprising high-single-digit dip on Friday, a day after the likes of BlackRock Inc (NYSE:BLK), Grayscale and Cathie Wood’s Ark Invest secured permission to list the bitcoin-tracking ETFs on the stock market, the BTC/USD pair traded flat on Saturday before running 2.6% lower on Sunday. Bitc ...

A woman is showered in $100 U.S. banknotes. Deagreez To argue that the S&P 500 (SP500) has sharply rallied since its dip last October would be an understatement. Since that time, the index has gained approximately 15%. There has been perhaps no bigger beneficiary of this rally and the overall rally in 2023 than asset managers. As has been the case for many years now, BlackRock (NYSE:BLK) has been the undisputed king of the asset management industry. Overall, this is an exceptional business. An overview of ...