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2 hours ago
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BlackRock ETF Flows Hit New Record as 2Q Earnings Beat
BlackRock, Inc. (BLK) reported second-quarter adjusted earnings per share of $12.05 today, beating analyst expectations, as the company's ETF business delivered record first-half flows that helped drive revenue growth across the world's largest asset manager. The company's iShares ETF franchise attracted $85 billion in net flows during the second quarter and $192 billion year to date, according to BlackRock's earnings report released Tuesday. ETF assets under management reached $4.7 trillion, representing 38% of BlackRock's total $12.5 trillion in assets. The ETF business generated $1.9 billion in base fees during the quarter, accounting for 42% of BlackRock's total investment advisory revenue, according to the filing. This revenue stream has become increasingly important as more fund managers increase their active strategy launches. "iShares ETFs had a record first half in flows, and technology ACV growth reached a fresh high of 16%," said Larry Fink, BlackRock's chairman and CEO, in the earnings statement. "This core strength, alongside client demand for private markets, digital assets, Aperio, and our tech and data-driven systematic strategies, propelled another consecutive quarter of above-target organic base fee growth." The company's total revenue increased 13% year over year to $5.4 billion, according to the earnings report. BlackRock's assets under management rose 18% from the prior year to $12.5 trillion, though quarterly net flows of $68 billion were reduced by a single institutional client's $52 billion redemption. ETF net flows were driven by strong demand across multiple asset classes, according to BlackRock. Fixed-income ETFs attracted $43 billion in flows, while equity ETFs drew $22 billion. Digital asset ETFs added $14 billion in new assets during the quarter. ETF revenue growth has outpaced BlackRock's alternatives business in recent quarters, according to the company's financial statements. ETF base fees increased to $1.9 billion from $1.6 billion in the prior year, while alternatives revenue reached $656 million. Catherine Seifert, vice president at CFRA Research, noted in a research report that BlackRock's "market-leading ETF franchise" remains one of three key growth pillars supporting the company's premium valuation. She expects continued ETF leadership amid challenging market conditions. "We expect BLK to pursue additional bolt-on acquisitions to achieve this strategic goal and view its ability to produce above-peer organic growth enhanced by tactical acquisitions as providing a catalyst for multiple expansion," Seifert wrote, forecasting 12%-17% revenue growth for 2025. The ETF business has proven resilient during market volatility, with BlackRock's index funds maintaining 95% of assets within applicable tolerance ranges over one-year periods, according to the | © Copyright 2025 All rights reserved
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2 hours ago
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Why ‘ETH Is Going to $10,000,' Explains EMJ Capital Founder and President
On Sunday, Eric Jackson, the founder and president of Toronto-based hedge fund EMJ Capital posted a thread on X that explained his firm's bullishness on ether (ETH). According to Jackson, the market has underestimated the impact of upcoming developments, particularly the anticipated approval of staking for ETH exchange-traded funds (ETFs) by October 2025. He argued that this event, rather than the already-approved ETH ETFs, represents the true catalyst for significant price growth, as it could transform ether into a yield-generating asset attractive to institutional investors. Jackson explained that his firm's model anticipates a supply crunch driven by several factors. He highlighted that staking approval would likely lead to increased institutional demand, reduced circulating supply, and passive investment flows from traditional finance. Combined with Ethereum's deflationary tokenomics post-merge, growing transaction fees from layer-2 solutions, and the rise of real-world asset (RWA) tokenization, he believes these dynamics could significantly boost ETH's value. Jackson emphasized that Ethereum's ability to generate real revenue positions it as an undervalued network, poised to become an institutional-grade yield product rather than merely a speculative asset. In his analysis, Jackson projected a base case of ether reaching $10,000 by the end of the current market cycle, with a more optimistic scenario of $15,000 or higher if layer-2 adoption and ETF inflows exceed expectations. He noted that while Bitcoin continues to dominate market attention with its price surpassing $120,000, Ethereum is quietly establishing itself as a critical infrastructure for cryptocurrency transactions. Jackson also expressed skepticism about the analogy of Ethereum as 'digital oil,' instead suggesting that its role as a foundational platform for commerce in a crypto-driven economy aligns it with companies like Circle, Coinbase, Shopify, and Robinhood. His firm remains bullish, maintaining a long position in the $ETHA ETF and plans to update its model as new developments unfold. With the crypto market struggling today in the wake of the profit-taking that took bitcoin's price in the past two days from above $123,000 to around $116,000, the ether price is holding up relatively well, down only 0.6% in the past 24-hour period at the time of writing. One reason for that is probably the support from Nasdaq-listed SharpLink Gaming (SBET). Earlier today, the firm announced via a post on X that it has solidified its position as the largest corporate holder of ether globally, surpassing even the Ethereum Foundation. The company disclosed that between July 7 and July 13, 2025, it acquired approximately 74,656 ETH for roughly $213 million, at an average price of $2,852 per ETH, bringing its total holdings to around 280,706 ETH. It says that this aggressive acquisition strategy, funded in part by raising $413 million through the sale of 24.5 million shares via its At-The-Market (ATM) facility during the same period, underscores its commitment to making ether its primary treasury reserve asset. The announcement also highlighted that approximately 99.7% of SharpLink's ETH holdings are actively staked, generating around 415 ETH in staking rewards since the company launched its ETH-focused treasury strategy on June 2, 2025. Additionally, SharpLink reported a 23% increase in its proprietary 'ETH Concentration' metric since June 13, 2025, reflecting greater ETH exposure per share. This move aligns with the company's broader vision, articulated by Chairman Joseph Lubin, a co-founder of Ethereum, to position SharpLink at the forefront of digital commerce by leveraging Ethereum's utility in decentralized finance and blockchain infrastructure. Technical Analysis According to CoinDesk Research's technical analysis model, ETH-USD showcased very high volatility throughout the 24-hour period from July 14 15:00 UTC to July 15 14:00 UTC, establishing a trading corridor of $132.08 that constituted 4% movement between the session's floor at $2,933.50 and ceiling at $3,065.45. The trading session was characterized by sustained bearish pressure during overnight hours, witnessing ETH's descent from $3,013.65 to reach the daily nadir of $2,933.50 approximately at 03:00, subsequently entering a lateral consolidation phase within the $2,960-$2,990 bandwidth throughout the majority of the session. The pivotal moment materialized during the concluding trading hour as ETH orchestrated a spectacular ascent from $3,000.02 to $3,051.89, accumulating $51.87 gains within a single hour accompanied by extraordinary trading activity of 496,321 units — exceeding twice the 24-hour baseline of roughly 225,000. This dynamic surge indicates robust institutional positioning and signals a potential breakthrough beyond the $3,000 psychological barrier that previously constrained upward momentum attempts. ETH-USD exhibited extraordinary price action during the final 60 minutes spanning 15 July 13:08 UTC to 14:07 UTC, accelerating from $3,016.75 to achieve a session pinnacle of $3,065.45 before consolidating at $3,047.00, marking a net appreciation of $30.25 or 1%. The timeframe showcased a compelling breakout narrative commencing at 13:25 when ETH catapulted from $3,017.89 to $3,026.08, succeeded by persistent bullish momentum that reached its zenith during the 13:42 to 13:50 UTC interval, where valuation skyrocketed from $3,029.14 to $3,065.37 — capturing $36.23 appreciation within an 8-minute window as trading activity surged beyond 21,000 units at 13:46, approaching triple the hourly baseline. This powerful advance definitively penetrated the $3,030 resistance threshold and established fresh session peaks, although subsequent profit-realization dynamics surfaced during the concluding 17 minutes, retreating ETH to $3,047.00 amid declining activity that reached zero during the final three minutes, indicating momentary fatigue following the exponential climb. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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2 hours ago
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Bitwise Adds Proof of Reserves for Bitcoin, Ether ETFs
Crypto asset manager Bitwise said it is improving transparency for its spot bitcoin (BTC) and ether (ETH) exchange-traded funds, rolling out third-party proof-of-reserves verifications through U.S. accounting company The Network Firm. The process, which is already live, replaces Bitwise's prior practice of publicly listing nearly 90 wallet addresses on its websites. Instead, The Network Firm will confirm on-chain holdings daily for the Bitwise Bitcoin ETF (BITB) and Bitwise Ethereum ETF (ETHW), reconciling balances with the number of fund shares outstanding, Bitwise said in a post on X. In the coming weeks, the firm said, it plans to add a second layer of transparency. That layer will bring in daily CPA-attested reports verifying not just asset balances but also fund liabilities. 'Together, these features deliver a more comprehensive and easily readable approach to transparency,' the company wrote. The added layer is meant to assure investors that fund holdings match obligations. Proof-of-reserve audits have been a growing trend in the cryptocurrency industry, taking off after the collapse of FTX in November 2022. That collapse occurred after a leaked balance sheet triggered a bank run on the exchange, revealing it did not have customers' assets on hand to meet its obligations. Since then, platforms' reserves have been a major concern for investors. Bitwise's bitcoin exchange-traded fund currently has $4.9 billion in net assets, far below the market leader, BlackRock's iShares Bitcoin Trust (IBIT), which holds $85.9 billion, according to SoSoValue data. Similarly, its ether ETF holds $358 million in net assets, below the sector's leader's $6.28 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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2 hours ago
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The Zacks Analyst Blog Highlights BITX, BITU, BTCL and BTFX
Chicago, IL – July 15, 2025 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: 2x Bitcoin Strategy ETF BITX, ProShares Ultra Bitcoin ETF BITU, T-Rex 2X Long Bitcoin Daily Target ETF BTCL and CoinShares Valkyrie Bitcoin Futures Leveraged Strategy ETF BTFX. Here are highlights from Monday's Analyst Blog: Bitcoin surged past the $120,000 mark for the first time, extending its bullish run as investor sentiment continues to improve. The rally marks a significant breakout from the narrow trading range that had persisted for months, reviving optimism after a period of stagnation. The world's largest cryptocurrency has now climbed nearly 30% since December and more than doubled in 2024. As Bitcoin surges to new all-time highs, investors looking to amplify their exposure are increasingly turning to leveraged Bitcoin ETFs. These are 2x Bitcoin Strategy ETF, ProShares Ultra Bitcoin ETF, T-Rex 2X Long Bitcoin Daily Target ETF and CoinShares Valkyrie Bitcoin Futures Leveraged Strategy ETF. While uncertainty surrounding Trump's political and economic agenda had dampened enthusiasm, broader market risk-on sentiment and a resurgence in equities have helped reignite Bitcoin's momentum. The rally has been driven by renewed institutional demand, robust spot Bitcoin ETF inflows and growing optimism surrounding global crypto adoption. It reflects broader investor appetite for alternative assets amid a shifting macroeconomic landscape. We have highlighted the key drivers in detail below: Bitcoin has witnessed sustained inflows from institutional investors, driven by increased adoption of spot Bitcoin ETFs in the United States and Europe. According to Trading News, Bitcoin ETFs have gathered $7.1 billion in capital over the past five trading sessions, one of the largest weekly inflows in 2025. Per Bitcoin ETFs have accumulated $50.1 billion in total inflows since their launch last year and $14.9 billion so far this year. Additionally, Trump's business ventures are making waves in the space. According to an SEC filing on Tuesday, Trump Media & Technology Group is preparing to launch a crypto-focused ETF that will invest in multiple tokens, including Bitcoin. Corporations are also ramping up participation in cryptocurrency. Companies like Strategy (MSTR) and GameStop (GME) continue to add bitcoin to their balance sheets. The options market also reflects renewed bullish momentum. Open interest, or the number of outstanding contracts on the Deribit exchange, has grown increasingly concentrated around call options at the $115,000 and $120,000 strike levels, indicating continued investor optimism (read: Bitcoin Tops $118K: ETFs to Make the Most of the Rally). Investors have been eagerly anticipating further new all-time highs for Bitcoin this year, as corporate treasuries ramp up crypto acquisitions and the United States edges closer to enacting comprehensive digital asset regulations. Dubbed "Crypto Week," the U.S. House of Representatives will begin deliberating a series of crypto-focused bills on July 14. These proposed laws aim to establish a clearer and more structured regulatory framework for the fast-evolving digital asset industry. A favorable outcome can accelerate institutional inflows, reinforce Bitcoin's status as a macro asset and boost confidence in regulatory-compliant crypto platforms. Among the key proposals is the GENIUS Act, which was recently cleared by the Senate. The bill outlines a federal framework for regulating stablecoins. Earlier this year, the Trump administration approved the creation of a strategic Bitcoin reserve, signaling a notably pro-crypto regulatory stance. The cryptocurrency is increasingly being viewed as a hedge against both inflation and geopolitical uncertainty, especially amid ongoing tensions in Eastern Europe and Asia. Bitcoin's latest rally underscores a resurgence in investor confidence, particularly from institutional players increasingly seeking exposure to digital assets as a hedge and growth opportunity. With regulatory clarity improving and demand rising, analysts suggest that the crypto bull cycle may still have room to run. Leveraged ETFs offer the potential for magnified returns, provided the sentiments remain bullish. Leveraged ETFs provide multiple exposures (2X or 3X) to the daily performance of the underlying index. These funds employ various investment strategies, such as swaps, futures contracts and other derivative instruments, to accomplish their objectives. However, they come with a high risk. Since most of these ETFs seek to attain their goals on a daily basis, their performances could vary significantly from the performance of their underlying index or benchmark over a longer period compared with a shorter period (such as weeks, months or years) due to their compounding effect (see: all Leveraged Currency ETFs here). Investors should also note that leveraged ETFs involve a greater deal of risk than traditional funds. They are often more costly and can be less tax-efficient, as they can generate capital gains through the use of swaps and other derivative instruments. Want key ETF info delivered straight to your inbox? Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@ Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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3 hours ago
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Derivative-Income Strategies Gobble Up Active Flows: GSAM
Derivative-income strategies proliferate, although sector innovation is coming incrementally, said Alyson Shupe, head of the global product strategy group for Goldman Sachs Asset Management. These strategies are gobbling up most of the active ETF inflows. Morningstar said derivative-income strategies saw over $29 billion in net flows during the first half of 2025, and it was the top category for all active ETF flows. Two of GSAM's derivative strategy ETFs, the Goldman Sachs S&P 500 Core Premium Income ETF (GPIX) and the Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ), have each gathered more than $1 billion in assets. ETF issuers often launch many of these strategies, so what seems like proliferation doesn't mean a different approach, she said. The difference is either in duration levels for the option or for the underlying index for the option. As the strategy matures, innovation comes incrementally, such as improving tax efficiency by paying out income at the capital gains tax rate rather than at the income tax rate, Shupe said. Covered-call strategies are also moving into the less-liquid options markets of single stocks and cryptocurrencies. Using less liquid, more esoteric options could make these types of ETFs riskier. Yet, increased trading by market makers and authorized participants begets liquidity, Shupe explained. 'It's not like this shadow market that people might have thought it was in the past,' she said. She noted that options strategies in niche markets are untested; however, she said that the ETF market 'has a really good mechanism for self-hygiene and self-correction,' adding that authorized participants will choose not to participate in certain markets if they believe there's too much risk since they bear the risk. ETF issuers will continue to launch more active products with the 'conversation' around private assets and ETFs evolving, she said. While a few private credit ETFs have launched, she said they won't proliferate unless buyers benefit from paying more for private assets in ETFs relative to buying public fixed income. As more visibility into private-market data becomes available, she expects index providers to try to replicate the return stream of private markets through liquid indexation. Index providers and others can purchase that data but would use liquid public assets to emulate the private-market return stream. 'Obviously, it's going to still carry public-market data and therefore some public-market volatility, but that's another way that you're starting to see the concept of private investing potentially weave its way into ETFs as well,' she | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
