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Texas is shifting its $10 million strategic Bitcoin reserve from BlackRock's IBIT ETF to direct, on-chain custody via a third-party provider, aiming to transition holdings within 60 days of contract execution.
Cole Kenley of Volmex Labs told CoinDesk that BlackRock's iBit ETF options hold $27-30 billion in open interest, dwarfing CME Bitcoin options' $800-900 million. This makes the iBit-derived volatility index the institutional benchmark.
Simon Dixon frames the Iran conflict as a negotiation between China, BlackRock, and JP Morgan to reset the global order. He argues the financial industrial complex is using the US military to end forever wars in the Middle East and establish regional stability under a multipolar system.
Dixon defines the financial industrial complex as transnational capital indifferent to nationalism, led by asset managers like BlackRock, State Street, and Vanguard and investment banks. He contrasts it with the more nationalistic US military-industrial complex that benefits from perpetual war.
Dixon describes BlackRock's dominance post-2008, with $12.5 trillion in assets, 20,000 board seats, and its Aladdin software used by central banks and the Treasury. He calls BlackRock and JP Morgan the net winners of the financial crisis.
Simon Dixon explains BlackRock's dominance stems from controlling ETF flows and Aladdin technology, which dictates institutional capital allocation, while Goldman Sachs was neutered by becoming a retail bank post-2008.
Simon Dixon claims Larry Fink, BlackRock, and 21Capital are not allies to Bitcoin; their ETFs, custody services, and Wall Street adoption are scoops designed to centralize control and distract from self-custody.
A $1.3 billion dark pool sale of BlackRock's IBIT ETF shares coincided with a Bitcoin price drop, marking the largest such trade seen and contributing to eight straight days of net ETF outflows totaling over $2 billion since May 14.
Simon claims BlackRock's dominance stems from its Aladdin technology, which centralizes asset allocation decisions for major funds, pension funds, and sovereign wealth funds globally.
Harvard Management Company sold its entire $87M position in BlackRock's iShares Ethereum Trust after one quarter and reduced its Bitcoin ETF exposure, but still holds over 3M shares of the iShares Bitcoin Trust valued at nearly $117M.
Simon asserts the financial-industrial complex, now unified British and American empires vassalized into BlackRock, State Street, Vanguard, and JP Morgan, seeks a piece of Iran's reconstruction alongside China and Gulf sovereign wealth funds.