Exposing BlackRock’s Ethereum Gamble

Exposing BlackRock’s Ethereum Gamble

Black Rock the new york-based asset
manager that controls more wealth than
almost anyone on the planet except for
basically nation states actually really
only two which are the US and China
these guys are no joke they kind of do
own everything it’s crazy and under the
leadership of Co Larry think Black Rock
has recently been making some serious
potentially dangerous moves into the
world’s second largest
cryptocurrency ethereum but what exact
is Black Rock up to and should we be
worried what is their angle here does it
all simply equal to ethereum just going
to go to the Moon they’re going to pump
our bags thanks Larry Fink or is it
possible that there are more Sinister
motivations behind black Rock’s actions
here well in today’s video let’s do a
deep dive let’s have a conversation on
black Rock’s ethereum Gamble and see if
we can get an idea of what might be
occurring what are they actually up to
let’s start off with a few simple facts
about our old buddies over at Black Rock
black rock is a multinational asset
manager that represents clients from
over a hundred different nations Black
Rock signature product is their ishares
ETF brand which offers ETF investment
exposure on most of the world’s major
stock exchanges Black Rock invests in
everything from public and private
companies
to residential and Commercial Real
Estate right on down to infrastructure
projects to Commodities to currencies
their finger is in every pie and do not
underestimate the relationships that
black rock has with the major US power
Brokers they’re very close with the
Federal Reserve they’re very close with
elected representatives and Senators
everyone is in their pocket Financial
regulators everybody case in point Black
Rock has filed 576 ETF applications with
the SEC and all but one of those were
ever
approved Black Rock knows the game
basically Black Rock gets What It Wants
okay so most of us know the Black Rock
runs ibit which is the most successful
us spot Bitcoin ETF with an estimated
250,000 Bitcoin under management at the
time recording but not long after Black
Rock began pursuing their spot Bitcoin
ETF they made a pretty quick pivot
towards ethereum in November 2023 news
broke that black rock had filed for a
spot ethereum ETF and this seemed like a
pretty aggressive move given at the time
the SEC hadn’t even approved any of the
Bitcoin ETFs yet of course the proposed
eth ETF acts like the Bitcoin ETF giving
investors exposure to ethereum Via Black
Rock shares while coinbase would act
again as the custodian partner so okay
great this all makes sense pump our bags
Larry f let’s go to the moon but what is
Black Rock actually thinking longterm
here when it comes to ethereum well
about two months after they filed their
spot e ETF in January of 2024 the Big
Kahuna himself Mr Larry thinkink went on
a round of interviews with trafi Legacy
Media shows and Fink basically SP the
beans as to how they View ethereum and
its relationship with the traditional
Finance World check this clip out
between Larry thinkink and CNBC host
Andrew sorin longer term do you now
expect other cryptocurrency ETFs meaning
do you think that Gary and we’ll talk to
him later Gary will have to approve an
ethereum ETF and is that a function of
something the SEC has to do or do you
think that all these things have to go
to court first I couldn’t respond to
that I I I think value in having an
ethereum ETF as I said these are just
start stepping stones towards
tokenization and I I really do believe
this is where we’re going to be going we
have the technology to tokenize today if
you want to talk about think about this
if you had a tokenized security and you
have a tokenized identity you Andrew the
moment you buy or sell an instrument
it’s known it’s on a general ledger that
is all created together um you want to
talk about issues around money laundry
and all that this eliminates all
corruption by having a tokenized system
wow there’s there’s a lot to unpack
there but if you think that thinkink
made a slip of the tongue then look at
this interview with Bloomberg television
We Believe The Next Step going forward
will be the tokenization of financial
assets and that means every stock every
Bond will have its own basically qip
it’ll be on one general ledger every
investor you and I will have our own
number our own
identification we could rid ourselves of
all issues around illicit activities
about bonds and stocks and digital by
having a a a a a tokenization but the
most importantly thing we could
customize strategy through tokenization
that is fits every individual we would
have instantaneous settlement think
about all the cost of settling bonds and
stocks but if you had a tokenization
everything would be immed OT because
it’s just a line item and so we believe
this is a technological transformation
for financial assets I believe you want
to talk about voting and voting choice
and all the things if if we know every
moment who is the owner of that stock
and it’s now time to vote every
individual who has ownership is
identified and they can vote their own
sharff okay look think comes right out
and says that black rock believes that
tokenization is the future of Finance
but what does that mean well Larry Fink
is talking about real world assets or
rwas moving on chain stocks bonds
currencies Commodities money market
instruments real estate all of it
everything according to thinkink we may
see a day when these assets no longer
trade between separated networks that
are controlled by the Brokers and the
stock exchanges and the settlement
Partners Clearing Houses all that kind
of stuff but rather that they will all
trade on a unified Ledger with digital
tokens representing the actual assets
themselves H interesting but listening
to think talk about this vision for the
future some things he said they were
music to my ears and other things he
said gave me a little bit creeps the big
win here is this entire Vision could
seriously bump our bags trillions of
assets could come on chain providing
Wild liquidity assuming RW do get pulled
into public decentralized chains like
ethereum then watch the heck out guys
because tens of trillions in wealth will
be coming to be tokenized and traded on
chain pretty soon you’ll be able to get
an nft of your house and get a loan
against that to buy dog coins it’ll be
amazing anyway owning the crypto that
secures these networks means you own the
infrastructure that
facilitates global trade and I love it
having said that I was also getting some
kind of uh George Orwell 1984 Vibes when
I listen to Larry Fink speaking thinkink
keeps mentioning how every investor will
have their own digital ID on
chain this means every Investor’s
Holdings and trades and movements in the
market would end up being tied to their
real world identities and of course
tracked by The Gatekeepers the overlords
of Finance black rocks of the world how
does this mean that black rock or their
friends could maybe freeze your trading
ID maybe freeze your assets if you’re on
the bad list well given how much power
they possess I think these questions
should be taken very seriously remember
black rock is like a big Pusher for the
ESG agenda and all that stuff and even
though they backed away from now they
were still there now let’s interrupt the
conspiracy talk a little bit to let you
know about the best damn newsletter in
crypto lighten the mood a little bit
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Below in the description or the pinned
comment on X okay let’s move back to the
facts on the ground we know that black
rock has an open violing for an eth spot
ETF and we know that they think
rwas are going to move on chain so the
next question is what blockchains are
they zeroing in on well two months after
Larry Fink’s
interviews Black Rock submitted an SE
filing for a new fund called Black Rock
usdt institutional digital liquidity
fund or Biddle bu bidd and the
blockchain that bidd operates on is none
other than
and ethereum obviously here’s what we
know about bidd registered in the
British Virgin Islands bidd offers
qualified investors tokenized exposure
to us treasury bills repurchase
agreements and other money market
instruments
basically investors purchase stable
coins but each of those stable coins is
backed by us treasury bills and other
interest bearing dollar instruments so
the more tokens an investor holds the
more yield they receive black Rock’s
partner for Biddle is securitized which
is a San Francisco based asset
tokenization company all investors
Holdings and all transactions of course
occur on digital wallets that are issued
from securitize it’s happening the fund
has already gone live and it pulled in
245 million from investors in just the
first few days after launching so what
do we see in here well obviously Black
Rock choosing ethereum is a huge vote of
confidence for the network and I know
ethereum Network fees suck but like when
you’re putting $250 million on chain
paying 20 bucks doesn’t really matter
and even though bidd is focused on
tokenized money market instruments the
asset class alone is worth like $26
trillion so hey that’s that’s a bit of
cheddar right so pay attention if more
asset managers follow in Black Rock’s
footsteps where Black Rock simply keeps
doubling down and starts bringing tens
of billions on chain now another
question you might be asking yourself is
who are biddles qualified investors
what’s black Rock’s Target client well
that’s where things start to take
another interesting turn here’s Carlos
Domingo CEO of securitize answering that
very question two weeks ago in an
interview with Laura shin and who who’s
investing in it oh we’re not disclosing
that
like not literally but demographically
can you describe oh no these are all
crypto companies look the target of this
is crypto companies so we we’re looking
at doing two things with these one is
obviously treasury management so crypto
companies have some of them very large
treasuries some of them they keep on
their own token some of them they keep
it in stable coins uh some of them do
have access to traditional bank accounts
but obviously it’s it’s a clanky
interface uh so so that’s one use casage
right anything all the Dows the
foundation
Etc that they can move part of the
treasury to a an ontain uh money market
fund daily liquidity uh and and then
also managed by the largest Management
in the world so you don’t have any
counterpart risk towards any random
crypto company that you g want to manage
it right that’s right Black Rock wants
bidd to be a treasury management
solution for crypto companies web3
developers decentralized autonomous
organizations and different crypto
foundations the selling point according
to Domingo is that these companies are
already flush in crypto and in stable
coins and that Biddle gives them a way
to manage and earn yield on their
treasuries on chain which is pretty good
better than trusting someone like FTX
right of course this is all brought to
you by the largest asset manager in the
world so there is a trust Factor there
that others don’t have and not to sound
conspiratorial but I’ve got more alarm
Bells going off here you’ve got Black
Rock which has these close ties to the
Federal Reserve courting crypto
companies into letting them manage their
treasury assets that along with all the
talk about digital IDs and
monitorization all that kind of stuff
look I’ve said it before and I’ll say it
again black rock is here to pump our
bags I’m all about that but these people
are not our friends black rock is not
here here for the revolution that ever
have been and that’s fine they’re here
to make a buck crypto right now Public
Enemy Number One to the US Federal
Reserve so what happens if Black Rock
gets a hold of a significant amount of
Treasury assets from major crypto
institutions and for one reason or
another the Federal Reserve and the
powers that
be decide to Nuke the
industry it creates a a fundamental risk
long term when black Rock gets the call
are they going to stand up for the
little guys or are they going to stand
up for their DC buddies or are they the
ones that going to put in the call to
the DC buddies I don’t know maybe I’m
just being paranoid so why don’t you let
me know what you think in the comments
below but fundamentally I don’t trust
black rock or their agendas and yeah
they’re going to pump the eth bags in
the meantime so yay to that we can at
least enjoy that anyway thanks for
watching

BlackRock is moving hard into Ethereum. Is this good for crypto, or does it indicate trouble down the road?
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00:00 BlackRock Overview
02:01 First Steps Towards Ethereum
03:05 What’s Larry Fink’s End Game?
08:54 The Launch of BUIDL
11:03 BlackRock’s Target Client

#bitcoin #crypto #investing
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Disclaimer
Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money. Lark Davis (The Crypto Lark and affiliated brand Wealth Mastery) is not providing you individually tailored investment advice. Nor is Lark Davis registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Lark Davis is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.