• In recent days, BlackRock has been at the center of extreme crypto-market turbulence, as its iShares Bitcoin Trust (IBIT) and related options saw record trading activity amid theories of leveraged hedge fund blowups and institutional hedging feedback loops.

• These events spotlight how a single, rapidly growing bitcoin ETF can influence broader digital-asset price moves and risk management behavior across the market.

• We’ll now examine how the crypto-driven volatility around BlackRock’s IBIT ETF shapes the company’s investment narrative and perceived risk profile.

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To own BlackRock, you generally have to believe in its role as a core “picks-and-shovels” provider to global capital markets, with diversified fee streams across ETFs, active funds and growing private markets. Recent crypto turbulence around the iShares Bitcoin Trust (IBIT) underlines both a near term catalyst and a risk: IBIT is pulling in massive volumes and attention, yet the volatility, alleged hedge fund blowups and derivatives feedback loops highlight reputational and regulatory questions that sit outside BlackRock’s traditional comfort zone. For now, the stock’s relatively muted price moves suggest this episode is not reshaping the overall earnings outlook in a material way, especially against steady dividend growth and new launches like the multi alternatives SMA, but it does sharpen the focus on how far BlackRock wants to lean into higher octane products.

However, the leverage and regulatory risk emerging around IBIT is something investors should understand. BlackRock’s share price has been on the slide but might be up to 9% below fair value. Find out if it’s a bargain.

Fourteen fair value views from the Simply Wall St Community span about US$733 to US$1,392 per share, reflecting wide dispersion. Set against IBIT’s volatility linked risks, this spread underlines how differently people are thinking about BlackRock’s future earnings resilience and business mix.

Explore 14 other fair value estimates on BlackRock – why the stock might be worth 32% less than the current price!

Disagree with this assessment? Create your own narrative in under 3 minutes – extraordinary investment returns rarely come from following the herd.

• A great starting point for your BlackRock research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

• Our free BlackRock research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate BlackRock’s overall financial health at a glance.