Blackrock, an American asset management giant and the largest global Bitcoin ETF manager, will buy two strategic ports located at the ends of the Panama Canal.

The transaction is being performed with CK Hutchison. A Hong Kong company whose property generated controversy at the time, especially among US President Donald Trump’s statements.

Mission to “recover” the Panama Canal

During the campaign and while in office, Donald Trump repeatedly expressed the intention to “resume” The Panama Canal. Delivered to the Central American country in 1999 after an agreement signed with the Americans two decades earlier.

In a speech, the US president highlighted the presence of Chinese companies in port management as an indication that Beijing had a significant influence on the interoceanic route.

The agreement, announced on Tuesday, states that Blackrock and a group of investors will pay $ 22.8 billion to purchase the ports of Balboa and Cristóbal. Both located at each end of the Panama Canal. CK Hutchison has confirmed the negotiation, describing it as a “agreement in principle.”

In addition to these ports, the Blackrock consortium will get a majority stake in 43 additional ports including 199 Critos in 23 countries. However, the transaction excludes any port facilities of the company in China or Hong Kong.

These world -class ports drive global growth, stated Larry Fink, Blackrock CEO, as cited by CNN. Flink also emphasized that, thanks to the network of relationships they maintain with companies such as Hutchison and governments from various regions, Blackrock has become a key reference. Especially for those looking for long -term investments.

Blackrock, with a colossal fund of $ 11.6 trillion in management assets, is one of the most influential financial players in the world. To put in perspective, this amount represents approximately 40% Gross Domestic Product (GDP) of the United States.

Recent evolution of Bitcoin Ibit ETF from Blackrock

Last week, Blackrock’s Ishares Bitcoin Trust ETF (Ibit) suffered a sharp drop of 11%, registering trading volumes similar to those observed in November. This significant drop coincided with the recent correction that the crypto market is passing.

During this period, more than 331 million Ibit shares were negotiated, mainly a drop to US $ 46.07. This value represents the lowest level in four months.

The beinchrypto recently reported that investors removed more than $ 1 billion from Bitcoin’s ETF. This massive liquidation was driven by the drop in prices. And possibly, by reducing CME futures, which reflect the performance of arbitration and financing strategies.

As a result, a panic sale was triggered that it also affected the other Bitcoin ETFs traded in the United States, which recorded significant capital exits.

Despite this correction, Ibit keeps the position Like Bitcoin’s largest ETF globally, with a total of US $ 39.6 billion in management assets.