Crypto

BlackRock's 1 to 2 percent bitcoin allocation guide could turn into selling wall in rallies

BlackRock’s guidance to allocate 1 to 2 percent of a multi-asset portfolio to bitcoin is being watched as a sign of broader institutional investing. Some in the market say the rule could create selling pressure in strong rallies because advisers may need to sell bitcoin to keep portfolio weights on target. Others cite factors that could reduce forced selling, including wider rebalancing bands, tax-advantaged accounts, growing options markets and using bitcoin as collateral.

Finance

Shinhan Bank marks 44th anniversary; CEO says remember founders' spirit and value of customers

Shinhan Bank marked its 44th anniversary on Tuesday with a ceremony at its headquarters in central Seoul. Chief executive Jeong Sang-hyeok said the bank has prioritised customer satisfaction and urged staff not to forget the meaning of customers and to remember the mindset and urgency of its founding. The bank is also running customer appreciation events through its Shinhan Super SOL app and holding an employee participation running and plogging campaign with donations.