The Frontier

Since the Iran war started February 28, 2026, IBIT gained 11.75% while SPY fell 0.6%, gold fell 9.6%, and silver fell 18.72%.

Dixon claims primary beneficiaries of the reset are US energy giants like Cheniere Energy and ExxonMobil, the military-industrial complex, and asset managers like BlackRock, whose AUM grew from $12 trillion to $14 trillion.

Simon Dixon identifies "transnational capital" - including BlackRock, State Street, and Vanguard, partnered with sovereign wealth funds - as controlling Western nations. He notes America has sold $65 trillion in assets to foreign investors as Saudi Arabia shifted from buying US treasuries to equities.

Simon Dixon asserts China is the sole truly sovereign nation, possessing a state banking system, manufacturing base, and energy independence goals, enabling it to dictate global terms. He notes 110 countries use China’s CIPS payment system, with 26 BlackRock-China trade route negotiations.

Simon Dixon states BlackRock manages $14 trillion in assets, with its Aladdin platform used by $25 trillion in global asset managers. He claims BlackRock is 45% owned by Bank of America and legacy European finance families, holding approximately 20,000 board seats across corporations.

Morgan Stanley launched its own Bitcoin ETF, featuring lower fees than BlackRock's IBIT and leveraging its 16,000 advisors managing $7.4 trillion in client assets for potential inflows.

Morgan Stanley’s spot Bitcoin ETF (MSBT) began trading with a 0.14% expense ratio, undercutting BlackRock's iShares Bitcoin Trust (IBIT) at 0.25%.

Nate Geraci notes Morgan Stanley's competitive edge comes from its army of wealth managers and trillions in client assets, not just its low fee. James Seyffart argues IBIT's liquidity dominance will be hard to replicate.