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exciting times ahead for the crypto community in Hong Kong! The acceptance of applications for cryptocurrency trading platforms by SFC is a major step towards establishing it as a global hub. #HongKongCrypto #CryptoAdoption

exciting times ahead for the crypto community in Hong Kong! The acceptance of applications for cryptocurrency trading platforms by SFC is a major step towards establishing it as a global hub. #HongKongCrypto #CryptoAdoption

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🚨Bitcoin Powers BlackRock's Record $10.5 Trillion Assets Under Management* 🚨 Roaring equity markets and the rise of a new spot bitcoin exchange traded fund have propelled BlackRock to record-breaking heights, with assets under management hitting $10.5tn. In its fiscal first quarter, the world’s largest money manager reported a remarkable 36% year-on-year increase in net income to $1.57bn, accompanied by an 11% rise in revenue to $4.7bn. These figures, along with adjusted net income of $1.47bn, surpassed analysts' expectations. However, net inflows of $57bn fell short, reflecting investor caution amid elevated interest rates set by the US Federal Reserve. BlackRock CEO Larry Fink highlighted the cautious stance of investors, with significant cash reserves on the sidelines due to fear and uncertainty. Yet, he sees potential for an influx into fixed income and income-producing products if opportunities in private equity unlock. BlackRock's foray into the bitcoin market with its spot exchange traded fund has been a resounding success, amassing $18.7bn in assets, contributing to total ETF flows of $67bn in the quarter. Fink emphasized BlackRock's focus on private markets, infrastructure, and technology, foreseeing accelerated growth opportunities driven by new business wins and technology advancements. Despite BlackRock's strong performance, its shares dipped 2% in afternoon trading, reflective of broader market sentiment. However, with a robust operating margin and AI-driven efficiency gains, the firm remains poised for continued success. #BlackRock #BitcoinAwareness #Investing
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