Overview
- Larry Fink said he was wrong about Bitcoin and described it as “an asset of fear,” arguing it functions as a hedge for worries over security and currency debasement.
- Brian Armstrong disclosed that several of the largest U.S. banks are running pilot programs with Coinbase for stablecoins, crypto custody, and trading, though he did not name the banks.
- BlackRock’s iShares Bitcoin Trust has grown above $70 billion in assets, with options open interest reported at roughly 7.9 million contracts that places it among top U.S. options markets.
- Regulatory momentum has picked up in 2025, with the Genius Act enacted and a bipartisan House market‑structure bill moving to the Senate, which Armstrong says could bring more activity onshore.
- Banks are testing crypto integrations even as trade groups push for tighter limits on stablecoins, and BlackRock highlights tokenization efforts including about $2.3 billion in tokenized U.S. Treasuries.