At the New York Investment Summit, the speech by BlackRock, the world's largest asset management company managing over $11 trillion in assets, shook the entire financial sector. This giant officially elevated Bitcoin to a position of equal importance with U.S. Treasury bonds and stocks of tech giants.
At the investment summit held in New York on December 22, 2025, BlackRock announced that Bitcoin would be listed alongside U.S. Treasury bonds and the stocks of the "Tech Seven" as the three pillars of a modern diversified investment portfolio.
The head of BlackRock's iShares division proposed this strategy, marking a transition from the company's initial foray into digital assets to deeply integrating them into its core macroeconomic worldview.
1. Event Positioning: Bitcoin Joins Core Assets
● On December 22, 2025, at an investment summit in New York, BlackRock made a decisive statement: Bitcoin is officially recognized as the most important investment theme of 2025. The head of BlackRock's iShares division proposed a groundbreaking strategy.
● This strategy places Bitcoin alongside U.S. Treasury bonds and the stocks of the "Tech Seven" as the three pillars of a modern diversified investment portfolio. This move solidifies the institutional narrative of the current market cycle, marking a fundamental shift in traditional finance's attitude towards Bitcoin.
● BlackRock's core philosophy has shifted from "providing access" to speculative asset channels to recognizing Bitcoin as a fundamental component of the global monetary system infrastructure. This upgrade in positioning reflects the evolving role of Bitcoin in the eyes of institutional investors.
2. Strategic Evolution: From Allocation Recommendations to Core Pillars
● As early as May 2025, BlackRock publicly suggested allocating 2% of portfolios to Bitcoin at the Bitcoin 2025 conference. This recommendation garnered widespread market attention and was seen as a significant signal of institutional recognition of crypto assets.
● In October 2025, BlackRock's Bitcoin spot ETF surpassed $100 billion in assets under management, equivalent to more than half of the global gold ETF market. This milestone event marked Wall Street's formal embrace of Bitcoin, incorporating decentralized digital assets into the centralized financial system.
● By December 2025, BlackRock's position further strengthened, elevating Bitcoin to a core asset status on par with U.S. Treasury bonds and tech stocks. This strategic evolution indicates a deepening understanding and positioning of Bitcoin by BlackRock.
● According to institutional data, as of October 2025, institutions and ETFs collectively held 6%—8% of the total Bitcoin supply, with corporate finance departments increasing their holdings by 245,000 Bitcoins in the first half of the year. These figures indicate that the institutionalization of Bitcoin is accelerating.
3. Theoretical Framework: "Macro Mirror" and Digital Gold Positioning
● BlackRock's 2025 argument is based on the "macro mirror" theory. This theory posits that Bitcoin's performance increasingly reflects global concerns over sovereign debt and currency devaluation. As the U.S. federal deficit continues to expand and global fiscal imbalances worsen, BlackRock analysts note that institutional investors are seeking "non-correlated" assets outside the traditional banking system.
● By positioning Bitcoin as "digital gold," BlackRock provides conservative asset allocators with the necessary theoretical framework to justify their large holdings. This framework redefines Bitcoin from a speculative asset to a value storage tool.
● Jean Boivin, head of BlackRock Investment Institute, has pointed out that Bitcoin is expected to become a tool for diversifying investment returns and a unique driver of risk and return. This perspective is gradually gaining acceptance in traditional finance, paving the way for Bitcoin's institutionalization.
4. Market Reaction: Divergence of Fund Inflows and Price Performance
● Despite BlackRock's Bitcoin ETF (IBIT) having a negative return of 9.6% in 2025, it still ranked sixth in net inflows among ETFs for the year. This phenomenon is unique among the top 25 inflow funds—other funds all had positive returns, with only IBIT showing a loss.
● Bloomberg analyst Eric Balchunas noted that this "coexistence of inflows and negative returns" demonstrates investors' continued determination to allocate exposure to Bitcoin. This seemingly contradictory market behavior actually reflects institutional investors' confidence in Bitcoin's long-term value.
● From a trading perspective, the net subscriptions of IBIT will enable the trust to buy Bitcoin in the market in cash form, converting fund flows into spot demand. Traders can assess the strength of spot demand by monitoring subscription and net creation data during U.S. stock market hours.
● This influx of institutional funds may stabilize Bitcoin's price, and traders can look for potential buying opportunities around support levels between $50,000 and $60,000. Additionally, cross-market dynamics are worth noting, as Bitcoin is often correlated with stock indices as a risk asset.
5. Institutionalization Process: Wall Street's "Moving" Action
● The real reason behind Bitcoin's surge is the quiet "moving" action being undertaken by Wall Street giants. The success of BlackRock's $100 billion ETF not only opens the door to mainstream finance for Bitcoin but also reveals the deep logic of how Web3 technology is reshaping the global monetary system.
● IBIT, as the largest Bitcoin ETF in the U.S., currently has assets under management of $72 billion, with daily net inflows exceeding $500 million multiple times since May 2025. Bitwise predicts that total inflows into Bitcoin ETFs could reach $120 billion in 2025 and may exceed $300 billion in 2026.
● Hunter Horsley, CEO of crypto asset management firm Bitwise, pointed out that if wealth management institutions allocate 1% of their investments to Bitcoin, it could bring "hundreds of billions" of funds into the Bitcoin market. This prediction highlights the potential impact of institutional funds on the Bitcoin market.
● BlackRock's innovative mechanisms also address the challenges faced by Bitcoin "whales." Early large holders can now "transfer Bitcoin into ETFs" without being counted as "selling," meaning they do not have to pay taxes and can use this asset as collateral for loans while still proving on-chain that this Bitcoin belongs to them.
6. From "Why Hold" to "How to Optimize"
This transition is expected to reach a climax in 2026 with the launch of complex "yield-bearing" products. BlackRock plans to introduce Bitcoin premium income ETFs designed to generate returns through covered call strategies.
● Through these tools, BlackRock is shifting market discussions from "why hold Bitcoin" to "how to optimize Bitcoin positions," thereby solidifying its role as a key gatekeeper of the next generation of digital capital.
● Nasdaq is pushing to increase the option limits for BlackRock's Bitcoin fund, indicating that the Bitcoin market is "shedding training wheels" and evolving towards more mature financial products. This product innovation will further drive the institutionalization of Bitcoin.
● At the same time, BlackRock is also exploring the application of tokenization and blockchain technology, launching blockchain version funds based on Ethereum records. This hybrid launch approach allows investors to choose between traditional funds and blockchain versions.
7. Reconstructing Trust Anchors in the Global Financial System
● BlackRock's $100 billion Bitcoin ETF is not merely betting on the price of Bitcoin rising; it is paving the way for a future debt system reset. They are engaged in "collateral replacement"—shifting trust from "government credit" to "mathematically proven scarcity."
● Robbie Mitchnick, head of digital assets at BlackRock, pointed out that Bitcoin being widely used for everyday payments in the future is merely "the upside potential of a call option." This means that the potential application scenarios for Bitcoin far exceed its current positioning as an investment tool.
● This change is not just a financial experiment. Its impact may be greater than imagined: El Salvador adopting Bitcoin as legal tender; some sanctioned countries starting to use cryptocurrencies to bypass the dollar payment system; and some central banks researching "digital reserves."
● Future reserve assets may no longer be limited to just the dollar but could include Bitcoin. This means that the foundations of the monetary system are gradually being rewritten, shifting from a government credit core to a basis of mathematical scarcity.
The table below outlines the key milestones of BlackRock's Bitcoin strategy in 2025 and its market impact:
Bitcoin is undergoing a critical phase in its development: accelerated entry into the mainstream market driven by institutions like BlackRock, gradually gaining legitimate status, while inevitably facing the challenge of dilution of its decentralized spirit.
Regardless of the future direction—whether it smoothly integrates into the traditional financial system or faces regulatory backlash—Bitcoin is no longer a simple digital currency. It is becoming the underlying "hard currency" of Wall Street, leading global finance into a new era supported by mathematical scarcity rather than government credit.
This financial transformation led by BlackRock addresses not only the question of how to allocate assets but also a century-old question: can mathematically proven scarcity coexist and thrive with the existing financial system, reconstructing the foundations of global value storage and exchange?
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