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Feb 28, 2021

BlackRock Crypto ETF Won't Come Without Legitimacy

BlackRock, the invest management firm managing more than $6.28 trillion in various assets, has recently been increasingly receptive towards virtual currencies. But Larry Fink, the company’s CEO, made it clear at a recent conference that they would not offer a cryptocurrency exchange-traded fund (ETF) until the “industry becomes ‘legitimate.’”

Somewhat ironically, the very independence from traditional financial institutions and structures that has defined bitcoin since its creation is hindering its continued push towards the mainstream. CNBC reported that Fink, in comments made during the New York Times Dealbook Conference on November 1, said that further growth was necessary before BlackRock would consider a crypto ETF.

“It will ultimately have to be backed by a government,” explained Fink, citing a need to mitigate the risks associated with crypto’s fundamental anonymity – its potential for use in tax evasion, money laundering, purchasing illegal goods, and other illicit activities. “…Right now, the world doesn't need a store of wealth unless you need that store of wealth for things you should not be doing,” said Fink.

BlackRock’s stance is unsurprising given the federal government’s tentative relationship with digital currencies. The US Securities and Exchange Commission (SEC) has been under pressure to regulate an environment that, until recently, was commonly described as a Wild West. The SEC formally rejected requests to list nine cryptocurrency funds in August, citing the failure of each to show they could prevent fraud (though one commissioner, Hester Peirce, promised a review of the decision.)

Concerns about market surveillance and manipulation have dominated the SEC’s thinking for as long as they have been dealing with cryptocurrency, though they remain open to the possibility of an ETF. A November 5 deadline for commentary on potential rule changes related to the nine bitcoin ETFs has come and gone, with an official ruling to come later.

While Fink’s message may be disappointing to some crypto supporters, he added his name to the growing list of business and financial leaders who are bullish on blockchain, calling himself a “huge believer” in the technology. Fink did not cite any specific ways BlackRock was or would be using the technology, but he predicted that “the biggest use for blockchain will be in mortgages, mortgage applications, mortgage ownership, anything that's labored with paper.”

For now, crypto ETFs remain out of reach. But recent developments – not least of which, the openness of high-level business and government officials to the idea – means that, with the right set of regulations, what was once mere fantasy may sooner than later become an investing reality.

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Related Ticker: BLK

Momentum Indicator for BLK turns positive, indicating new upward trend

BLK saw its Momentum Indicator move above the 0 level on February 28, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 64 similar instances where the indicator turned positive. In of the 64 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for BLK just turned positive on February 20, 2024. Looking at past instances where BLK's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .

BLK moved above its 50-day moving average on February 15, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BLK advanced for three days, in of 364 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 337 cases where BLK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 60 cases where BLK's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BLK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BLK broke above its upper Bollinger Band on February 22, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock better than average.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. BLK’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.071) is normal, around the industry mean (2.978). P/E Ratio (22.222) is within average values for comparable stocks, (25.153). Projected Growth (PEG Ratio) (2.877) is also within normal values, averaging (3.053). Dividend Yield (0.025) settles around the average of (0.070) among similar stocks. P/S Ratio (6.845) is also within normal values, averaging (34.255).

Notable companies

The most notable companies in this group are Bank of New York Mellon Corp (NYSE:BK), Ares Capital Corp (NASDAQ:ARCC), AMTD IDEA Group (NYSE:AMTD), WisdomTree (NYSE:WT).

Industry description

Investment Managers manage financial assets and other investments of clients. Management includes designing a short- or long-term strategy for buying/holding and selling of portfolio holdings. It can also include tax services and other aspects of financial planning as well. While it is perceived that the industry is faced with growing competition from robo-advisors/digital platforms and passive/ index-tracking funds, many investors still find value in actively managed in-person services that investment management companies often emphasize on. At the same time, many wealth managers are also incorporating digital initiatives/low cost options in addition to their in-person customized services. Their main sources of revenues are fees as a percentage of assets under management, in addition to a certain portion of clients’ gains from asset appreciation. BlackRock, Inc., Blackstone Group Inc and Brookfield Asset Management are some of the major investment management companies.

Market Cap

The average market capitalization across the Investment Managers Industry is 5.84B. The market cap for tickers in the group ranges from 57 to 120.84B. BLK holds the highest valuation in this group at 120.84B. The lowest valued company is RSERF at 57.

High and low price notable news

The average weekly price growth across all stocks in the Investment Managers Industry was 30%. For the same Industry, the average monthly price growth was 30%, and the average quarterly price growth was 4%. HFAHF experienced the highest price growth at 8,400%, while RESCU experienced the biggest fall at -82%.

Volume

The average weekly volume growth across all stocks in the Investment Managers Industry was -64%. For the same stocks of the Industry, the average monthly volume growth was -59% and the average quarterly volume growth was -40%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 38
P/E Growth Rating: 60
Price Growth Rating: 50
SMR Rating: 69
Profit Risk Rating: 78
Seasonality Score: 0 (-100 ... +100)
View a ticker or compare two or three
BLKDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a provider of investment and risk management services

Industry InvestmentManagers

Profile
Fundamentals
Details
Industry
Investment Managers
Address
50 Hudson Yards
Phone
+1 212 810-5300
Employees
19800
Web
https://www.blackrock.com
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Stereotaxis

BLK and

Correlation & Price change

A.I.dvisor indicates that over the last year, BLK has been closely correlated with BEN. These tickers have moved in lockstep 73% of the time. This A.I.-generated data suggests there is a high statistical probability that if BLK jumps, then BEN could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To BLK
1D Price
Change %
BLK100%
+0.43%
BEN - BLK
73%
Closely correlated
-0.11%
TROW - BLK
73%
Closely correlated
+0.16%
SEIC - BLK
70%
Closely correlated
+0.94%
APAM - BLK
69%
Closely correlated
+1.49%
JHG - BLK
68%
Closely correlated
+1.22%
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