(Bloomberg) — US spot-Bitcoin exchange-traded funds suffered their largest daily outflow as the digital token heads for its worst week since August 2023. Most Read from Bloomberg Investors pulled a net $564 million from the batch of almost a dozen funds on Wednesday, the biggest drawdown since the products debuted in January. The prospect of
BlackRock Inc. is poised to host a gathering of top corporate executives and government officials in Riyadh, marking the US firm’s first event on this scale in Saudi Arabia’s capital and bolstering the kingdom’s efforts to lure foreign investment. The world’s largest asset management company is hosting the event alongside the Saudi Ministry of Finance,
BlackRock Loses Appeal Over UK Tax Dispute in Barclays Global Investors’ Acquisition BlackRock Inc (NYSE:BLK), the world’s largest asset manager, faced a setback in its appeal concerning the U.K. tax it sought to reclaim from HM Revenue & Customs on its $13.5 billion acquisition of Barclays Global Investors (BGI) in 2009. The appeal revolves around a structure BlackRock
Cryptocurrencies were invented in the heat of the 2008-2009 financial crisis to provide an alternative to banks. The inventors of Bitcoin, who went by the pseudonym Satoshi Nakamoto, envisioned a financial system that didn’t depend on “trusted third parties” that they said couldn’t be trusted in the first place. Instead, it would use cryptography and
Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023. Michael Nagle | Bloomberg | Getty Images While custody revenue presents a big growth opportunity for Coinbase in the near term, some industry analysts are concerned that the company’s core transaction business
The late-year rally in stocks and bonds has created an opportunity for investors to re-evaluate their portfolios at a time when the ETF industry is cranking out new products in areas including active fixed income and, potentially, cryptocurrency. The best performing ETFs in any given year are ultimately a function of what’s happening in the