New York City Mayor Eric Adams signed an executive order creating the nation’s first city-level Office of Digital Assets and Blockchain to promote crypto and blockchain development within a regulatory framework. Moises Rendon, with over a year of municipal digital asset experience, will lead the office, coordinating government–industry collaboration, attracting talent, improving public services, and advancing related policies with federal and state authorities. https://t.co/znumoY68pv ...

Core Insights - BlackRock's assets under management reached $13.46 trillion in Q3 2025, up from $11.48 trillion a year earlier, indicating a rapid integration of traditional finance with digital assets [1][2][4] - CEO Larry Fink emphasized the potential of tokenizing traditional investment products, which could attract new investors to the crypto market, marking a significant opportunity for BlackRock [2][3] - The firm's iShares Bitcoin Trust (IBIT) has become the top-earning ETF, generating $244.5 million annually, with assets nearing $100 billion in under 450 days, showcasing the growing institutional interest in Bitcoin ETFs [6] Financial Performance - BlackRock reported long-term net inflows of $171 billion, with revenue rising to $6.5 billion, reflecting an 8% increase in organic base fees [4] - Total expenses increased to $4.6 billion, while private-market inflows reached $13.2 billion and retail inflows rose to $9.7 billion [4] - Technology revenue surged by 28% to $515 million, driven by the Aladdin system, which is increasingly utilized for managing tokenized portfolios [5] Market Trends - Digital-asset exposure in BlackRock's funds has tripled since 2024, indicating a significant rise in demand for Bitcoin ETFs and tokenization initiatives [3] - Fink compared the role of crypto to that of gold, highlighting its function as an alternative store of value amid growing institutional demand [3] - Bitcoin ETFs are projected to attract $30 billion this quarter, reflecting Wall Street's increasing control over crypto liquidity [6]

The @federalreserve's Payments Innovation Conference is hosting @SergeyNazarov and key financial leaders from @BNYglobal, @FireblocksHQ, and @Lead_Bank to discuss how traditional finance and digital assets are converging.Full agenda: https://t.co/MbCuU4H6Q7 ...

'Bitcoin Mayor' Eric Adams Establishes NYC Digital Assets and Blockchain Office► https://t.co/8baikoqRaq https://t.co/8baikoqRaq ...

Core Insights - The financial industry is entering the era of asset tokenization, as stated by BlackRock CEO Larry Fink during an interview [1] - BlackRock's iBIT Bitcoin ETF has surpassed $100 billion in assets, with total digital holdings reaching $107.4 billion [1] Group 1: Tokenization Strategy - BlackRock aims to access $4.1 trillion held in digital wallets globally by digitizing traditional financial products, referring to this as "repotting" assets into digital formats [2] - The firm has already initiated this strategy with a tokenized money market fund and an expanding digital asset platform [2] Group 2: ETF Flows and Market Dynamics - Recent institutional fund movements show volatility, with Ethereum ETFs experiencing $428.5 million in net outflows on October 13, including $19.1 million from BlackRock's ETHA fund [3] - On October 10, Ethereum ETFs had $174.9 million in aggregate outflows, with BlackRock's ETHA leading with an $80 million withdrawal, coinciding with increased on-chain Ethereum staking deposits [4] Group 3: Digital Asset Management - BlackRock manages $17.25 billion across its digital asset ETFs, primarily utilizing Coinbase Prime for custody operations, with significant withdrawals and deposits logged since March 2024 [5] - The firm's push for tokenization aligns with broader institutional adoption, including trading platforms enabling 24/7 access to tokenized securities [5] Group 4: Bitcoin Market Status - Bitcoin is trading at $113,242, maintaining support above $110,217 despite short-term bearish pressure, with immediate resistance at $114,716 [6] - The cryptocurrency's price is 74% above the 200-week moving average, indicating underlying strength in the long-term trend [6]

Core Insights - BlackRock is developing technology for digital representations of traditional assets, with a focus on tokenization to broaden access to capital markets and reduce fees [1][2][3] - The firm is engaging with major financial platforms to advance its tokenization strategy, which is seen as a significant trend in the future of markets [2][3] - BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) is one of the largest tokenized assets, currently valued at $2.8 billion [5][6] Tokenization Strategy - BlackRock's CEO emphasized the need for rapid movement towards tokenization, particularly for assets with multiple intermediaries, to lower costs and enhance affordability [3][4] - The firm is not currently focusing on tokenizing real estate but recognizes its potential to reduce fees associated with home ownership [3] - Tokenized assets are gaining traction among younger investors, and introducing them to traditional assets could better prepare them for significant life events [4] Investment and Market Position - BlackRock led a $47 million funding round in Securitize, marking a strategic step in its digital assets strategy [6] - The company manages the largest ETFs for Bitcoin and Ethereum, with assets under management of $93 billion and $17 billion, respectively [6] - Future announcements regarding BlackRock's role in asset tokenization and digitization are anticipated, as the firm invests heavily in developing its own technology [7]

Core Insights - BlackRock reported strong quarterly results, beating expectations on both revenue and earnings, with assets under management reaching a record $13.5 trillion [1][5]. Company Performance - The positive performance is attributed to strong fund flows and a strategic focus on expanding into alternative investments, private assets, and infrastructure [2][5]. - Digital assets, commodities, and fixed income also contributed significantly to the quarter's results, alongside core equity ETFs [5][6]. - BlackRock's shares have outperformed the asset management peer group, with a year-to-date increase of approximately 13% [10]. Market Environment - The current investment climate is characterized as "risk-on," benefiting firms like BlackRock, with expectations for continued strong performance in the fourth quarter [5][6]. - Macro factors, particularly US-China trade relations, may impact market performance, but BlackRock is positioned to navigate these challenges [3][4]. Competitive Position - BlackRock holds a competitive edge due to its efficient fee structure and a strong portfolio of ETFs, which are less susceptible to market volatility [12][14]. - The company is focusing on innovation and diversification to maintain its competitive position and enhance its business model [12][14]. Future Outlook - The outlook for 2026 suggests that macroeconomic risks will be more significant than inherent risks to BlackRock, as the company prepares to strengthen its product offerings [13][14].

RT BSCN (@BSCNews)JPMORGAN PLANS CRYPTO TRADING EXPANSION AMID BROADER BLOCKCHAIN PUSH- JPMorgan is preparing to expand its role in cryptocurrency trading.- In an interview with CNBC, Scott Lucas, the bank’s global head of markets and digital assets, said JPMorgan will move deeper into crypto trading.“Jamie [Dimon] was pretty clear during investor day that we were going to be involved in the trading of that,” Lucas said, referring to JPMorgan’s CEO.Building, Not Replacing- Lucas described the bank’s approac ...

Financial Data and Key Metrics Changes - BlackRock reported third quarter revenue of $6.5 billion, a 25% increase year over year, driven by acquisitions and organic base fee growth [13] - Operating income rose to $2.6 billion, up 23% year over year, while earnings per share increased by 1% to $11.55 [13] - The company finished the quarter with record assets under management (AUM) of $13.5 trillion, with net inflows of $205 billion in the third quarter, reflecting 10% annualized organic base fee growth [12][19] Business Line Data and Key Metrics Changes - The organic base fee growth was 8% over the last 12 months, the highest level in over four years, with significant contributions from ETFs, private markets, and cash management [10][12] - Performance fees increased by 33% year over year to $516 million, primarily due to contributions from HPS [15] - Technology services and subscription revenue rose by 28% year over year, reflecting strong demand for Aladdin technology offerings [15] Market Data and Key Metrics Changes - iShares ETFs generated record net inflows of $153 billion in the third quarter, with core equity and index fixed income leading the way [19] - The cash management platform crossed $1 trillion in AUM, growing 45% over the last three years, with $34 billion of net inflows in the quarter [21] - Institutional active franchise saw $22 billion of net inflows, driven by a $30 billion pension outsourcing mandate [20] Company Strategy and Development Direction - BlackRock's strategy focuses on integrating capabilities across private markets, digital assets, and technology to unlock growth opportunities [12][22] - The company aims to leverage its acquisitions to enhance client engagement and expand its service offerings, particularly in private credit and digital assets [27][29] - BlackRock is exploring tokenization to bridge traditional capital markets with digital assets, aiming to create a seamless investment experience for clients [31][33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong client engagement and the potential for continued organic growth [22][24] - The company highlighted the importance of adapting to market changes and client needs, particularly in the context of digital assets and private markets [36][37] - Management noted that the fourth quarter is typically the strongest for organic growth, positioning the company well for continued success [21][22] Other Important Information - BlackRock repurchased $375 million worth of shares in the third quarter and plans to continue share repurchases in the fourth quarter [19] - The company expects a low teens percentage increase in core G&A expenses year over year, driven by recent acquisitions [18] Q&A Session Summary Question: What was the contribution of various business lines to the 10% base fee organic growth? - Management noted that organic base fee growth was highly diversified across franchises, with significant contributions from digital assets, active ETFs, and systematic strategies [45][48] Question: What are BlackRock's ambitions regarding tokenization? - Management emphasized the potential of tokenization to enhance access to traditional assets for younger investors and mentioned ongoing discussions with major platforms to advance this initiative [58][60] Question: How is BlackRock addressing concerns in the private credit market? - Management reassured that credit quality remains strong and that private credit markets are well-positioned for continued growth, despite recent market anxieties [72][75] Question: What impact could ETF share classes have on BlackRock? - Management views the introduction of ETF share classes as a positive development that could enhance distribution and allow for greater flexibility in investment strategies [80][84] Question: How is BlackRock expanding its distribution in private credit? - Management highlighted ongoing discussions with leading insurers and plans to accelerate the launch of semi-liquid products across various private credit strategies [96]

🇰🇪 TODAY: Kenya's parliament approves legislation to regulate cryptocurrency and digital assets, aiming to attract investment to the sector, per Reuters. https://t.co/m1JMJtbzkM ...