Marina Lyubimova
BlackRock's stock has reached new all-time highs as Wall Street's appetite for Bitcoin exposure continues to grow. The firm's iShares Bitcoin Trust has become a major player in the crypto space, attracting billions in assets and pushing $BLK shares into uncharted territory.
What's Driving the Rally
According to BNN, BlackRock stock jumped 2.8% to hit a record high on October 13, powered by momentum in its Bitcoin ETF. The iShares Bitcoin Trust (IBIT) now holds over 805,000 BTC worth more than $92 billion, making it the dominant player in the Bitcoin ETF market.
The stock's breakout reflects several converging trends. Bitcoin ETF holdings have soared as institutions seek regulated exposure to digital assets. Trading volume spiked during the breakout, signaling strong institutional interest. The technical picture looks solid too, with previous resistance levels now providing support for further gains.
This isn't just about charts and numbers. BlackRock's success signals a fundamental shift in how traditional finance views crypto. What was once considered fringe is now central to the strategies of the world's largest asset manager. The firm has effectively positioned itself as the gateway between Wall Street and Bitcoin, and investors are taking notice.
What Comes Next
Whether this rally continues depends largely on two things: Bitcoin's ability to hold current levels and whether institutional money keeps flowing into crypto products. If both hold up, BlackRock's stock could keep pushing higher. The company has clearly tapped into something bigger than a typical product launch—it's riding the wave of crypto's integration into mainstream finance.
For now, $BLK's record highs tell a clear story: Bitcoin has arrived on Wall Street, and BlackRock is leading the charge.
Marina Lyubimova
