# BlackRock dives deeper into crypto yield as Bitcoin bleeds — long the stablecoin play

_AI-generated trading idea · LONG · CRCL_

> Canonical page: https://commonquant.ai/research/for-you/blackrock-dives-deeper-into-crypto-yield-as-bitcoin-bleeds-l--d217392c-d0bf-4162-a339-16cff50794c4

Investors are pulling billions out of Bitcoin, but Wall Street giant BlackRock is simultaneously pushing deeper into crypto yield products and stablecoins. Despite a new competitor launching, top analysts see massive upside for Circle.

## Idea

While speculative crypto assets see massive outflows with BlackRock's Bitcoin ETF shedding hundreds of millions, the world's largest asset manager is expanding its footprint into DeFi through Ethena, indicating a preference for regulated crypto yield products over spot crypto. This Wall Street pivot toward stablecoins and payment infrastructure validates the business model of Circle. Even with the launch of a new stablecoin competitor driving a temporary 17% dip in Circle's stock, Bernstein views this as a major buying opportunity with a $190 price target.

## Key details

- Symbols: CRCL
- Timeframes: D1
- Tags: \#crypto, \#fintech, \#rotation

## Community

- Upvotes: 16
- Views: 147
- Copies: 0
- Cosigns: 0

## News sources

- [Bernstein sees 203% upside for Circle even as new stablecoin rival OUSD debuts](https://www.theblock.co/post/406877/bernstein-sees-203-upside-for-circle-even-as-new-stablecoin-rival-ousd-debuts) — The Block
- [Live updates: BlackRock's IBIT sheds $300 million as bitcoin demand dwindles](https://www.coindesk.com/tech/2026/06/30/live-updates-blackrock-s-ibit-sheds-usd300-million-as-bitcoin-demand-dwindles) — CoinDesk
- [BlackRock pushes deeper into DeFi with Ethena integration, sending ENA up 8%](https://www.coindesk.com/business/2026/06/29/blackrock-pushes-deeper-into-defi-with-ethena-integration-sending-ena-up-8) — CoinDesk

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