# BlackRock cryptocurrency and banking sector activities

> Live situation record from CLSTR: https://clstr.news/situations/blackrock-cryptocurrency-and-banking-sector-activities
> Updated: 2026-10-23T16:23:21.000Z. Sources: 16. Developments: 2.

BlackRock has engaged in several strategic financial moves involving both the Italian banking sector and cryptocurrency products. The firm increased its stakes in major Italian institutions, raising its participation in Intesa Sanpaolo to 7.3% and UniCredit to 8.92%.

In the cryptocurrency market, BlackRock filed for a new buffered Bitcoin fund, the iShares Bitcoin Managed Protection ETF (PBIT), designed to provide 10% downside protection. Following a period of significant inflows, US spot Bitcoin ETFs experienced a net outflow of approximately $635.6 million, with BlackRock’s iShares Bitcoin Trust recording a single-day outflow of $254.1 million. 

Subsequent reports indicate BlackRock transferred approximately 3,215 BTC and 38,882 ETH from its ETF wallets to Coinbase Prime, a move occurring alongside reported ETF outflows.

## Claims

- Franklin Templeton registered two Bitcoin dividend reinvestment ETFs on Nasdaq. (corroborated by 4 sources)
- The new ETFs will reinvest stock dividends into Bitcoin. (corroborated by 4 sources)
- The funds will start with a 95% allocation to stocks and 5% to Bitcoin. (corroborated by 4 sources)
- The registration for the new ETFs is set to become effective on October 27. (corroborated by 3 sources)
- Franklin Templeton added approximately $150 million to its tokenized money market fund on the XRP Ledger. (corroborated by 3 sources)
- The new XRP Ledger fund shares are held in a single wallet controlled by the issuer's authorized signers. (corroborated by 3 sources)
- The number of sgBENJI shares on the XRP Ledger increased from 48 million to nearly 193 million. (corroborated by 2 sources)

## Timeline

### 2026-10-23: Franklin Templeton registers Bitcoin dividend ETFs and expands XRP Ledger fund

Franklin Templeton has registered two Bitcoin dividend reinvestment ETFs on Nasdaq and added $150 million to its tokenized fund on the XRP Ledger.

11 sources. https://clstr.news/cluster/blackrock-and-franklin-templeton-expand-cryptocurrency-related-financial-activities

### 2026-10-21: BlackRock expands Italian bank stakes and launches buffered Bitcoin ETF

BlackRock is expanding its influence by filing for a buffered Bitcoin ETF and increasing its stakes in major Italian banks Intesa Sanpaolo and UniCredit.

5 sources. https://clstr.news/cluster/blackrock-expands-italian-bank-stakes-and-launches-buffered-bitcoin-etf

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Cite as: BlackRock cryptocurrency and banking sector activities. CLSTR, https://clstr.news/situations/blackrock-cryptocurrency-and-banking-sector-activities