#贝莱德比特币策略升级 BlackRock officially announced a significant upgrade to its Bitcoin strategy at the New York Investment Summit on December 22, 2025, listing its iShares Bitcoin Spot ETF (IBIT) as one of the top three core investment themes for 2025, alongside short-term U.S. Treasury ETFs (SGOV) and the 'Seven Giants' U.S. stock ETFs, positioning it as one of the three pillars of a modern diversified portfolio, marking a strategic upgrade from product supply to a long-term conviction-driven allocation strategy.

Key Upgrade Points

- Strategic Positioning Leap: Transitioning from 'providing speculative asset channels' to 'viewing Bitcoin as a foundational component of the global monetary system and digital gold,' incorporating it into a core macro framework, emphasizing its role in uncorrelated asset allocation, hedging sovereign debt, and currency depreciation.

- Focus on Products and Marketing: The official website prominently promotes IBIT; in 2025, net inflows into IBIT are expected to exceed $25 billion, ranking as the sixth largest for new ETF capital, with BlackRock actively promoting it against the trend, demonstrating long-term confidence.

- Product Line Expansion: Plans to launch a Bitcoin premium yield ETF (covered call enhanced yield), with an application for a staked Ethereum ETF submitted in November, expanding the crypto product matrix.

- Executive Endorsement: CEO Larry Fink has completed a transition from criticism to support, reinforcing institutional narratives and the compliance process.

Market Impact and Trading Insights

- Strengthening Institutional Narrative: Provides a theoretical framework of 'digital gold' for conservative allocators, accelerating compliance capital inflows and mainstream adoption.

- Price Catalysis Path: Short-term boost to market sentiment and liquidity; medium to long-term shift of Bitcoin from a speculative asset to a portfolio allocation asset, reducing volatility expectations.

- Trading Strategy Tips: Focus on capital flows (IBIT net inflows/outflows), macro hedging demand (geopolitical and inflation), regulatory and product progress (new ETF approvals); can combine spot + covered call strategies to align with BlackRock's yield product expectations, controlling individual position sizes and implementing stop-loss measures.

Risk Warning

- Bitcoin's performance is under pressure, approximately **-4%** year-to-date, with high volatility characteristics unchanged.

- Regulatory policies and changes in macro liquidity may affect the pace of capital inflows.