BlackRock CEO Larry Fink believes that the recent crypto rally is not based on false speculation, but rather a "flight to quality" due to real economic factors and geopolitical crises. Fink drew parallels between cryptocurrencies and traditional havens such as US Treasuries and gold, which are known for their stability during periods of instability. Fink has also expressed optimism about asset tokenization, stating that it could revolutionize finance. Recently, BlackRock minted tokenized fund shares on JPMorgan's new platform.

On October 16th, according to Bloomberg Terminal information, BlackRock stated that its Bitcoin spot ETF application is still under review by the SEC.

BlackRock, a major investment firm, has taken legal action against the owners of 44 internet domain names that contain keywords such as "Blackrock", "Aladdin", "capital", "crypto" and "investments". The company claims that these domains were registered in bad faith to profit from consumer confusion and divert traffic through tactics such as pay-per-click ads, malware and email phishing attacks.

Arthur Hayes, co-founder of BitMEX, has expressed concerns about BlackRock's entry into the Bitcoin space, warning that it could fundamentally change the top crypto asset. While Hayes and other traders welcome the possibility of a spot Bitcoin ETF, he is worried about the potential influence it could give to traditional finance.

Raoul Pal, a former executive at Goldman Sachs, believes that the finance industry could eventually see up to $1 quadrillion worth of derivatives and equities move onto blockchain and crypto platforms. Pal notes that BlackRock's recent push for a Bitcoin exchange-traded fund (ETF) sends a message to the industry that crypto is a meaningful technology.

On August 28th, cryptocurrency KOL The ₿itcoin Therapist posted on X platform (formerly Twitter) that BlackRock is the second largest shareholder of four of the top five mining companies by market capitalization, including Riot Blockchain, Marathon Digital Holdings, Cipher Mining, and TeraWulf.

According to Morningsta data, the flow of trading products related to cryptocurrency exchanges in Europe has increased since BlackRock submitted a Bitcoin ETF application in the United States. The net inflow of cryptocurrency-related ETPs registered in Europe in June reached 150 million euros, a new high since March 2022. According to CoinShares data, a similar trend has also appeared globally, with a total capital inflow of 610 million US dollars (560 million euros) in June and July.

A Bitcoin wallet has rapidly grown to become the third largest holder of Bitcoin in the world, accumulating 118,000 BTC worth $3.08 billion in just over three months. The sudden growth has sparked speculation about the owner, with some suggesting it could be a crypto exchange moving funds, while others have more wild theories, such as BlackRock being the "prime suspect."

According to a tweet by Miles Deutscher, Tether now holds more U.S. treasuries than Australia, the UAE, and Spain. Additionally, Tether's operating profits for the quarter exceeded $1 billion. For context, BlackRock, the world's largest asset manager, had a similar operating profit of around $1.6 billion. This news is astonishing.

On Thursday morning in Asia, the top 10 non-stablecoin cryptocurrencies, including Bitcoin and Ether, experienced a dip in trading. Analysts predict that despite low price volatility, turbulence may occur due to the upcoming decision on BlackRock's Bitcoin ETF application and next year's Bitcoin halving event.