Market Signal Briefing

Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) chair David Hobbs, in Tuesday's results statement, described the financial year as one of 'continued investment and preparation'.

In the twelve-month period, ended 30 June, the junior oil and gas firm raised capital, appointed key new executives and worked on more than one welll.

"We worked to strengthen the foundations of the business," Hobbs said in the statement.

"In 2025, we focused on building the organisational, technical and governance capabilities required to support the company's targeted transition toward potential development activities. This included further investment in our team, systems and project planning, while maintaining a disciplined approach to capital allocation.

"During the year, we also made progress advancing key strategic and technical initiatives, including engagement with Glenfarne in connection with the proposed Alaska LNG project, ongoing work related to the Environmental Impact Statement and Trans Alaska Pipeline System (TAPS) engineering, and ongoing appraisal activities at Dubhe-1. The appointments of Max Easley as Chief Executive Officer and Tralisa and Erich to the executive team further strengthen the company's leadership and financial oversight as we continue to evaluate development pathways on behalf of our shareholders."

In terms of financials, Pantheon reported a total comprehensive loss of $5 million for the financial year ended 30 June.

The company raised $64 million before costs via a combination of convertible bonds and equity. These funds supported the Megrez-1 and Dubhe-1 drilling programmes and general corporate expenses. An additional $46.25 million was raised after the year-end to fund ongoing operations.

The Megrez-1 exploration well, drilled in late 2024, encountered oil-bearing zones but did not produce hydrocarbons during flow testing. It remains a potential future development opportunity.

Dubhe-1, drilled in the Ahpun reservoir, was completed and flow tested over a two-month period. It is now shut in for static reservoir testing with further production testing scheduled in 2026.

Pantheon retains estimated contingent recoverable resources of approximately 1.6 billion barrels of crude and 6.6 trillion cubic feet of associated natural gas across its projects.

VANCOUVER, BRITISH COLUMBIA – TheNewswire - DECEMBER 30, 2025 – GERMANIUM MINING CORP. (“GERMANIUM MINING”, “GMC”, OR THE “COMPANY”) (CSE: GMC; OTCQB: EMSKF; FSE: 1I30)  is pleased to announce that it has engaged veteran geologist William “Bill” Feyerabend, CPG and Amazona Enterprises ( “Amazona” ) for a planned late-2025 to early-2026 field exploration and reconnaissance program at the Company's Azure Ridge Historical Mine ( “Azure Ridge” ), a multi-metal germanium-gallium-gold-silver-zinc project in Nevada, USA. The planned work program is designed to support the Company's geological advancement of the property's critical mineral potential, with a particular focus on germanium and gallium guided by the historical sampling carried out by the US Bureau of Mines (“USBM”) and US Geological Survey (“USGS”) 1 . The program will include detailed site reconnaissance, geological observations, and selective rock sampling intended to improve the Company's understanding of mineralization styles and priority target areas.

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Standard Chartered is the latest addition to the list of big financial players that think XRP has huge potential in the future. According to their estimates, the token could rise by as much as 330% in the next year.

Standard Chartered Shares Price Target for XRP in 2026
Geoffrey Kendrick, the global head of digital assets research at Standard Chartered, has made one of the most positive estimates for the Ripple coin. According to Kendrick, the coin may rise to $8 by 2026. This is an increase of 330% from the current price of $1.86.

The bank’s outlook is reportedly based upon developments within its ecosystem. For example, the increasing interest of spot XRP ETFs in the US. In November, several investment funds for the token launched for trading. These include funds from Franklin Templeton, Grayscale, Canary Capital, and many others.

These products help solve several problems that have made things difficult for institutions. One key issue is the risk involved with holding assets in custody. Data from SoSoValue reveals that these ETFs have attracted around $1.15 billion in overall investments as of December 29.

Source: SoSoValue
Apart from the ETFs, the main usability of the coin supports the narrative.  Its main function is that it’s the native crypto of the XRP Ledger. The ledger requires less time to process transactions, and fees are lower than in SWIFT.

The CEO of Ripple, Brad Garlinghouse, has expressed that the XRPL may account for as much as 14% of the total payments facilitated by SWIFT within five years. Should the slightest chance of that prove true, then the token itself as a bridge currency may well experience a significant rise in demand.

Despite the optimism of Standard Chartered, not all analysts continue to hold the same view. Veteran trader Peter Brandt recently went bearish on the coin. He predicted that the token would sink below the price of $1. He highlighted that the token had formed a double top in the weekly charts, which is a sign of reversal of trends in many cases.

What Other Factors Are Driving the Bullish Outlook?
Participation from institutions surrounding the Ripple coin has continued to grow. In mid-December, CME Group launched spot-priced XRP futures. This means institutions can now have exposure with lower margins.

Meanwhile, the token has also made the headlines in the tokenization industry. Recently, the founder of the Cardano project, Charles Hoskinson, said Ripple and Midnight are working at scales much bigger than traditional finance’s tokenization industry.

In addition, Ripple has further built on the trend with a significant XRPL technological upgrade. This led to improved optimization and decentralized finance features.

After setting a new all-time high back in early October, the Bitcoin price entered into an extended downtrend period, losing over $40,000 of its value to drop below $90,000. During this time, sentiment and market participation have understandably been negative, with investors pulling back from the cryptocurrency. However, with the year drawing to an end, a crypto analyst has explained what is expected for Bitcoin next, and why investors aren’t ready for what’s coming.

Why Bitcoin Price Could Be Gearing Up For A Big Move
Pseudonymous analyst Crypto Waterman took to X to outline the reasons why they believe that Bitcoin could be on the verge of a breakout. While many believe that the top is in, Waterman argues the opposite, using the trends from previous cycle tops to show why the Bitcoin price is yet to top.

For one, the analyst argues that pullbacks like these are part of each cycle, and the previous cycles were no different. But other than the pullback, there is also the gold and silver trend, with both having hit all-time highs in December 2025, while Bitcoin has continued to struggle.

Waterman explained that in previous cycles, both gold and silver hit new all-time highs before the Bitcoin price followed later. As such, with both of these assets already hitting new peaks, the crypto analyst believes that leaving Bitcoin to buy gold and silver isn’t a smart choice.

Additionally, one of the major markers of a Bitcoin cycle top has been the performance of the Coinbase app on the App Store. In past cycles, Coinbase had risen to number 1 before Bitcoin peaked. Meanwhile, it only reached Number 280 in October when BTC made its $126,000 all-time high. Thus, it suggests that this isn’t the top.

Why This Is Not The Top
Other factors are also mentioned as to why this is not the top for the Bitcoin price, one of which is the altcoin market performance. Altcoins have continued to struggle during this time, with major alts being down between 60% and 80% from their all-time highs and no sign of an altcoin season in sight.

The Crypto Fear & Greed Index also did not cross the 90 mark this cycle, suggesting that euphoria did not reach its peak, as well as the MVRV Z-Score remaining below 3, when the trend is for the Z-Score to reach above 6 before it tops.

Given this, the crypto analyst suggests that a number of things will happen. Investors who exited the market back in early 2025 are expected to move back in. Then, those who left in 2024 will follow, and then the 2021-2022 investor cohort will return. Finally, new retail investors join the market, which will be the signal to exit the market.

BTC bears continue to dominate price | Source: BTCUSD on Tradingview.com
Featured image from Dall.E, chart from TradingView.com

The price of XRP, a prominent cryptocurrency, fell to $1.85 as of December 30, 2025, following the breach of critical support levels. This decline is significant within the digital currency market as it reflects potential shifts in investor sentiment and market dynamics.

2025 has been full of disappointments for the cryptocurrency industry, and the "US Strategic Bitcoin Reserve" is definitely one of them. 

If you want to understand why the "US Strategic Bitcoin Reserve" is viewed as the biggest policy rug-pull of 2025, you just need to look at one (obviously fake) screenshot that has been circulating on X (formerly Twitter) this morning.

The facetious image shows a hilarious one-sided conversation of a supposed lobbyist screaming into the void of a government inbox.

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To understand the pain in that screenshot, you have to rewind to late 2024. The euphoria was blinding. The plan, as pitched by Senator Lummis and hyped by every influencer with a microphone, was simple: the U.S. would stop auctioning seized Bitcoin and start actively buying it to offset the national debt. It was supposed to be the "sovereign FOMO" event that would send BTC to $500,000.

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However, the government never actually intended to buy it. The "Strategic Reserve" turned out to be a masterclass in ambiguity.

The White House signed the Executive Order establishing the "Strategic Bitcoin Reserve." However, it turned out that the administration's definition of a "reserve" was simply holding onto the 200,000 BTC the DOJ had already seized from dark web busts. They didn't buy a single satoshi. They just promised not to sell what they already had for free.

The lobby, which spent hundreds of millions getting "pro-crypto" candidates elected, found itself in the position of the sender in that fake email.

In the meantime, Senator Cynthia Lummis (R-WY), the undisputed "Godmother" of the Strategic Bitcoin Reserve and the industry’s most loyal ally on Capitol Hill, has announced she will not seek re-election in 2026.

Collapsing Polymarket odds Polymarket bettors now see only a 28% chance of a Bitcoin reserve being established in the US by the end of 2026. 

The year starts with cautious optimism (roughly 40%), but look at that vertical climb in late February leading into March. The odds surged to their all-time high (nearly 70%) in March.

Then, the line got choppy. It dropped from the 70% highs but finds support around the 40-50% range. This is the "Just checking in..." phase. The big announcement didn't drop immediately, and doubts started to creep in.

Then, there was the phase of acceptance. There were no more spikes, no more rumors, just a slow realization that the "Reserve" was just a rebranding of seized assets.

7h05 ▪
6
min read ▪ by
Mikaia A.

Summarize this article with:

In a few hours, the crypto scene could experience one of its most symbolic turning points. Bitcoin, on the brink of the new year, seems to hesitate between a remake of a bullish tale… or the start of an era of doubts. The magical breath of 2025 is slow to take effect, and if the ultimate annual candle turns red, we might have to wait until 2026 to dream again. For investors, this week is much more than a simple calendar transition: it is a tug of war between believers and the weary.

In brief

Bitcoin struggles to reclaim $90,000, despite increased whale support.
Options expired Friday reignite volatility, favoring a possible drop towards $80,000.
The Bitcoin/silver ratio dropped 67%, signaling weakness against precious metals.
Bitfinex long positions reach a peak, indicating a bullish outlook for 2026.

Bitcoin: The $90,000 Plays Hide-and-Seek
Can Bitcoin still close 2025 in the green? Already, the $90,000 level acts like a mirage. Briefly reached, it quickly gave way. Worse: this threshold fails to turn into solid support, leaving traders on edge. This Sunday, CrypNuevo set the tone: “Record levels of options expired on Friday, so I’m expecting a lot of volatility for the next few weeks.“

The analyst envisions a “drop” scenario toward $80,000 to capture liquidity, followed by a possible rebound to $100,000. Conversely, a break below $80,000 could derail BTC toward $72,000, a major resistance level turned potential support.

Meanwhile, Michaël van de Poppe keeps an eye on a discreet but powerful technical barrier: the 20-day moving average. This threshold, located around $89,400, could trigger a bullish reversal if the price clings to it convincingly.

The liquidation chart also indicates that leveraged positions could cause a series of jerky movements. And in this chaos, other cryptos do not all have the luxury of hope: Ethereum stagnates, Solana wavers, and altcoins suffer a domino effect.

Crypto: Whales Swim Against the Current
As doubt invades timelines, another signal lights up analysts’ radars: Bitfinex whales quietly reload. According to GalaxyTrading, BTC longs have reached record levels since Q1 2024. BitBull confirms that Bitfinex whale long positions on BTC have nearly hit a two-year high. This signal serves as a compass.

In a cautious market, discreet accumulation by the “OG whales” acts as a bet on the future. CryptoQuant even highlights a resurgence of this low-volatility activity, emphasizing that, unlike retail-driven rallies, whale spot activity generally reflects long-term positions. 

This behavior sends a clear message: market giants see beyond the current turbulence.

And yet, the mood is not euphoric. Short-term holders (STH) continue to sell at a loss, according to Glassnode data, with realized loss volume reaching $300 million per day. CryptoVizArt summarizes the dilemma by explaining that despite a price stabilization above the market’s actual average, loss selling has not decreased significantly.

The End of a Cycle or the Beginning of Another?
With a historic peak of $126,200 in October, 2025 could have been written in gold letters. But a drop of nearly 40% since this peak leaves a bitter taste. Some wonder: are the famous 4-year cycles outdated? Can we still hope for a repeat of the past in a market that is changing its nature?

CryptoQuant, through CryptoZeno’s analysis, provides valuable insight. Unlike previous dips where corrections often reached -70% to -85%, the current pullback remains contained. Leverage has been purged, forced sales limited, and strong hands hold firm.

Here is what CryptoZeno highlights:

From an on-chain perspective, this aligns with a market structure where forced selling has been more limited, leverage excess has been materially reduced compared to the 2021 cycle, and long-term holder supply remains relatively resilient.

Yet all this unfolds in an uncertain macro context. Precious metals, on the other hand, are breaking the ceiling. The Bitcoin/silver ratio has dropped 67% since May, and the silver price has jumped +175% in 2025, according to The Kobeissi Letter. Gold also flirts with highs.

Some Key Points to Remember

The Bitcoin price is trading at $87,397 at the time of writing;
Bitfinex whales hold their highest long positions in two years;
The daily realized loss volume exceeds $300 million;
The BTC/silver ratio has fallen to 1,104, its lowest since September 2023;
The expiration of $27 billion in options has revived volatility.

An annual close in the red would be an unprecedented event for Bitcoin in a post-halving year. Some analysts whisper that it would be a first in 14 years. The signal would be clear: a structural change is underway. Perhaps BTC will never evolve by the same rules again. For those hoping, it will take a bit more than fireworks this time.

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Yet, there are some positives as well.

Ripple’s cross-border token has been rejected on multiple occasions at both key supports at $2.00 and $1.90, which have now turned into significant resistance levels.

Popular analyst Ali Martinez outlined a couple of reasons why the asset might be due for another shock, and a possible dump by over 55%.

In a recent post on X, the analyst with more than 160,000 followers warned that the network activity on Ripple’s platform has plunged in recent weeks. He noted that the number of active addresses has decreased from 46,000 to under 39,000 in the span of just several days.

However, this is somewhat expected given the Holiday season, as investors tend to stay away. His second reason might be more concerning, as it involves whales – perhaps the most crucial investor cohort behind every cryptocurrency.

They have been on a substantial selling spree for over two months now. In fact, they began disposing of their XRP tokens once it became known that the long-anticipated spot Ripple ETFs would go live in the US in November. At one point, they had dumped almost 1.5 billion tokens in less than a month, and they have continued selling as he reported recently.

At the same time, whales have turned into sellers, offloading more than 40 million $XRP in recent days.https://t.co/6SDXlllDLH

— Ali Charts (@alicharts) December 29, 2025

Speaking about the ETFs, they might be the silver lining here. Ever since the first one went live for trading on November 13, investors have continuously poured money into all five, and no single day has ended in the red in terms of net flows. In just over a month, the financial vehicles tracking XRP’s performance have outperformed their BTC, ETH, and SOL counterparts by attracting $1.15 billion, according to SoSoValue data.

You may also like:

Why Ripple (XRP) Downtrend May Deepen Amid Rising Exchange Inflows

XRP Leverage Unwinds as Speculators Exit, Open Interest Hits 2024 Lows

Ripple (XRP) ETFs Continue to Outperform BTC, ETH Funds Despite Cooling Inflows

If the net inflows remain the same or even increase over time, they could provide substantial support for the underlying asset’s price moves.

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About the author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.

Stablecoins are quickly shedding their image as tools meant only for crypto trading. Today, they are becoming a serious settlement layer for global finance, processing volumes that now rival, and in some cases exceed, traditional banking and payment networks. Ripple sees this shift as a major inflection point, one that could redefine how money moves across borders.

From Trading Pair to Payment InfrastructureRipple’s Managing Director for the Middle East and Africa, Reece Merrick, recently highlighted how far stablecoins have come. In 2025 alone, stablecoin settlement volumes are projected to reach between $28 trillion and $30 trillion, representing a sharp jump from previous years. That figure puts stablecoins ahead of many legacy payment rails in terms of raw value settled.

What started as a liquidity bridge for crypto markets is now being used for cross-border payments, treasury management, and institutional settlements. Speed, 24/7 availability, and low costs are turning stablecoins into a practical alternative to slower banking systems.

On-Chain Usage Shows Real DemandThe growth is not limited to headline volume numbers. Stablecoins now account for roughly 30% of all on-chain transactions, up from about 20% in earlier years. More than 10 million wallet addresses are actively using stablecoins every day, showing that adoption is spreading beyond professional traders.

This trend reflects a clear preference for digital cash that settles instantly and works across networks. As blockchain infrastructure improves, stablecoins are increasingly becoming the default medium of exchange on-chain.

Regulation Brings ConfidenceAnother key driver behind this momentum is regulation. Governments and regulators are no longer standing on the sidelines. Frameworks in the US, Europe, and the Middle East are bringing clarity, making institutions more comfortable integrating stablecoins into their operations. Ripple believes this mix of regulatory certainty and real-world demand is what allows stablecoins to scale sustainably.

RLUSD Shows Ripple’s Strategy in ActionRipple’s own USD stablecoin, RLUSD, offers a snapshot of this broader shift. According to Ripple executive Jack McDonald, RLUSD recently marked its first anniversary and has already climbed into the top five USD stablecoins. The November independent attestation confirmed its growing footprint.

RLUSD has gained conditional approval for Ripple National Trust Bank from the US Office of the Comptroller of the Currency, placing it under both federal and New York oversight. It has also expanded to multiple Layer 2 networks via Wormhole, been green-listed by Abu Dhabi’s FSRA for collateral use, and added support on Gemini for fast, low-cost settlement on the XRPL.

Stablecoins Surge While XRP LagsRipple advocate Bill Morgan summed up the contrast simply. RLUSD had a strong year driven by adoption and compliance, while XRP struggled to reflect similar momentum in price. The divergence highlights how Ripple’s stablecoin push is gaining traction even as the market continues to debate XRP’s valuation.

Overall, Ripple’s view is clear. Stablecoins are no longer experimental. They are rapidly becoming the backbone of a faster, more programmable global financial system.

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsWhat are stablecoins used for beyond crypto trading?

Stablecoins are now used for cross-border payments, institutional settlements, and treasury operations due to fast, low-cost, 24/7 global settlement.

How big is the stablecoin market in 2025?

Stablecoin settlement volumes in 2025 are projected at $28–30 trillion, rivaling or exceeding many traditional payment and banking networks.

What role does regulation play in stablecoin adoption?

Clear regulations give institutions confidence to use stablecoins, enabling compliant growth and wider integration into global financial systems.

What is RLUSD and why is it important to Ripple?

RLUSD is Ripple’s USD stablecoin, designed for regulated, low-cost settlement, showing Ripple’s strategy to lead in compliant digital payments.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017,
aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy,
our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a
rigorous Review Methodology when evaluating exchanges and tools. From emerging
blockchain projects and coin launches to industry events and technical developments, we cover
all facets of the digital asset space with unwavering commitment to timely, relevant information.

Hyperliquid’s top competitor, Lighter, has announced the debut of its native LIT token. This comes after a high level of investor interest in the platform as it prepares to distribute the token via an airdrop.

Lighter Reveals the LIT Token Framework
The perp exchange confirmed on X the launch of the native coin. According to the team, the token aims to create a common benefit system for traders, developers, institutions, and investors.

We are announcing the Lighter Infrastructure Token (LIT)! Lighter is building infrastructure for the future of finance and the native token is key to aligning incentives. In this thread, we will describe the structure of the token, broader vision, and roadmap of use cases.

— Lighter (@Lighter_xyz) December 30, 2025

The company said that all economic value generated by its products will benefit LIT token holders directly. The products will involve simple financial services, starting from its core DEX.

“The value created by all Lighter products and services will fully accrue to LIT holders. We are building in the USA and the token is issued directly from our C-Corp, which will continue to operate the protocol at cost,“ they shared.

The revenues will be tracked openly on-chain and distributed between the ecosystem development efforts and token buybacks based on the general markets.

The token supply is equally distributed between the ecosystem and internal stakeholders. 50% of LIT is reserved for the ecosystem, while 50% is reserved for the team and investors. 

However, the allocations in the team and investors have a one-year lockup period and a subsequent three-year linear vesting schedule. In the internal allocation, the team and investors will get 26% and 24%, respectively.

The exchange also intends to integrate its LIT token into market data validation and pricing infrastructure. This is where the token will act as a fee and staking solution for the providers and the subscribers.

It’s worth mentioning that Lighter secured $68 million in funding from investors. This came after its public mainnet launched in October.  Its user base has continued to grow as it continues to gain momentum.

Investor Demand Grows Ahead of Token Launch
The announcement comes at a period of high market expectations. A massive majority of traders had already positioned for a near-term launch in the lead-up to the reveal. According to Polymarket traders, the token would go live before year’s end.

New listing: $LIT is live! pic.twitter.com/grbcGUMkI2

— Lighter (@Lighter_xyz) December 30, 2025

Speculation went into overdrive after Hyperliquid listed a pre-market perpetual contract linked to the token last week. That allowed traders to take long and short positions into the main event of token generation.

Further increasing expectations, the platform recently transferred 250 million LIT tokens, adding to beliefs that the event in question may be the Lighter airdrop before the official TGE.

The platform was founded in 2022 by Vladimir Novakovski. Since then, it has become one of the largest decentralized trading platforms for derivatives.

8h15 ▪
4
min read ▪ by
Luc Jose A.

Summarize this article with:

As the crypto market closes a year under high tension, XRP takes a sharp turn. After riding a wave of optimism fueled by institutional flows and regulatory hopes, Ripple’s asset faces increasing selling pressure. The reversal is clear, technical signals turn red, and investor sentiment flips. This downturn could well mark a new chapter in the trajectory of one of the most watched tokens on the market.

In Brief

XRP records a drop of nearly 50 % from its cycle high, falling below the symbolic $2 threshold.
Selling pressure intensifies, fueled by a sharp change in investor behavior.
On-chain data indicates a clear transition between accumulation and distribution in the XRP market.
In the absence of a solid rebound, XRP could continue its fall toward the $1.50 zone, a former demand point.

Selling pressure fueled by on-chain behaviors
The trigger for this corrective phase originates from a market dynamic now largely oriented towards exit, as the XRP volume drops sharply.

Thus, analyst Darkfost estimates that “selling pressure on XRP has significantly intensified in recent weeks”. This observation is not just a fleeting volatility but a deeper structural phenomenon. According to him, XRP has plunged nearly 50 % from its cycle peak near $3.66, currently trading in a critical zone around $1.85.

This reversal is explained by massive asset movements toward exchanges, signs of a clear desire to sell. Analysis of data from CryptoQuant shows that holders, especially the oldest, are adopting a defensive stance.

Several quantified elements confirm this shift toward distribution :

Binance, the leading platform by volume for XRP, has seen its inflows explode since December 15 ;

Daily transfers of 35 million XRP were observed, peaking at 116 million XRP sent to Binance on December 19 ;

This dynamic contrasts with the accumulation and stability period observed in October and November ;

According to Darkfost, this movement is fueled by a combination of profit-taking by long-time crypto investors and capitulation of new entrants positioned higher in the cycle.

These on-chain data leave little room for doubt. Holders seek to exit positions, sometimes even at a loss. This trend intensifies selling pressure and makes any rebound attempts harder to sustain.

A disparity of flows and concentration of supply
Beyond the behavioral dimension, the price of XRP reveals a particularly degraded technical structure.

In recent days, the asset has traded below all its major moving averages, which shows a clear imbalance in favor of sellers. Indeed, the rejection of the price in the $3.00 to $3.50 zone marked the breaking point, initiating a sequence of lower highs and lows. Today, XRP oscillates between $1.87 and $1.90, in a zone where rebound attempts remain timid.

The $1.80 to $1.85 threshold now constitutes a critical support that has been tested several times, without buyers managing to regain control. The weakness of demand in this zone raises questions about XRP’s ability to stop its decline.

Without a significant slowdown in deposits on platforms, conditions remain unfavorable for an accumulation phase. In short, as long as sellers keep the initiative, the probability of a drop toward the $1.50 zone, identified as a former support point, remains very real.

Under tension but still closely watched, XRP remains at the heart of speculation. Despite current turbulence, some technical scenarios reveal rebound potential. If conditions align, XRP could aim for $4, an ambitious target for the crypto but symbolic for an asset whose trajectory remains closely linked to market dynamics.

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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Chainlink price has been forming a bearish setup as whale demand for the token has declined over the past couple of weeks. If the setup is confirmed, it could likely mean more downside for the token ahead.

Summary

Chainlink price has been in a downtrend since August this year.
The altcoin could face more intense selling pressure now that whale buying has stalled.
Multiple bearish patterns have formed on LINK charts.

According to data from crypto.news, Chainlink (LINK) has dropped 4.5% in the past 24 hours and 16.6% from its monthly high. Trading at $12.38 at press time, the losses extend to 54% from its highest point this year when zooming out the charts.

Chainlink price would likely continue to extend its downtrend over the coming weeks as it is close to confirming a bearish pattern on the charts. This comes amid a significant drop in demand from whales. 

As per data from Nansen, whales holding LINK increased from 1.77 million to 1.91 million around the first two weeks of December, but have since dropped to 1.87 million. Declining demand from these large-pocketed investors is typically seen as a warning sign by retail investors and tends to drive attention away from the token.

Source: Nansen
On-chain metrics have also been deteriorating, pointing to a broader slowdown in network activity. 

Data from DeFiLlama shows that the total value locked in DeFi protocols built on the Chainlink network has dropped from $1.13 billion recorded in late August to $530 million at press time. Additional data shows that weekly fees have dropped nearly 50% since September.

Chainlink weekly fees generated | Source: DefiLlama
When taken together, they suggest that overall interest and utility in the Chainlink ecosystem have softened, potentially limiting upside for the token in the short term.

Chainlink price analysis
On the daily chart, Chainlink price has been forming a descending triangle pattern with a descending trendline and a horizontal trendline, which acts as support. Such a pattern is confirmed when the price breaks down from the lower horizontal trendline.

Chainlink price has formed a descending triangle pattern on the daily chart — Dec. 30 | Source: crypto.news
At press time, LINK price was hovering just 5% above the lower trendline. Historically, a confirmed breakdown from this pattern has consistently preceded increased selling pressure and further downside movement.

Momentum indicators, specifically the MACD and RSI, further corroborate the prevailing bearish sentiment. With the MACD lines positioned below the zero mark and the RSI trending downward at 42, the data suggests that sellers maintain sufficient control to drive prices lower before reaching oversold conditions.

As previously reported by crypto.news, Chainlink price has also been eyeing a breakdown below a multi-year double top pattern, which could further compound the downside risk.

Hence, there is a chance that Chainlink price could crash to its August 2024 low of $8 if it fails to hold the $10.1 support level, which has served as a strong floor since mid-2024.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Traders are forcing macro risk through metals rather than crypto, with silver volatility spiking on physical tightness while bitcoin stays trapped in a low-volatility holding pattern. Dec 30, 2025, 7:31 a.m.

Bitcoin BTC$87,406.37 and silver are sending sharply different signals to markets as the year closes, with volatility data showing traders actively repricing one asset while leaving the other stuck in neutral.

Over the past month, bitcoin’s annualized 30-day realized volatility has steadily compressed into the mid-40s, reflecting a market that remains range-bound and short on conviction. At 45%, the 30-day realized volatility is well below its 365-day average of 48%, according to TradingView data.

STORY CONTINUES BELOW

That may seem large compared to a blue chip stock, but it's nothing compared to silver, the semi-precious, industrial metal.

Silver's realized volatility has surged into the mid-50s, driven by a sharp rally, widening physical premiums, and stress across global bullion markets. Realized or historical volatility represents actual price swings of an asset over a specific period.

(Trading View)

The volatility divergence is consistent with the price performance of the two assets. While silver is up over 151% this year, BTC is down nearly 7%.

Silver’s massive price surge is explained by demand-supply mismatch. While demand from solar panels, electric vehicles, electronics and battery technologies has risen sharply, supply has failed to keep the pace.

In addition, China has decided to impose export licensing on silver starting Jan. 1 has tightened physical supply expectations, while prices in Shanghai and Dubai have traded $10 to $14 above COMEX.

The London forward curve has slipped into a steep backwardation, a sign of immediate scarcity, even as futures markets show limited stress, analysts argue.

Bitcoin, meanwhile, trades nearly 30% below the record high of over $126,000 reached in October. Traders widely blame fading demand for spot ETFs and the DAT narrative losing steam for the ongoing price slump alongside the Oct. 10 crash that auto-deleveraged winning bets, denting investor confidence.

In a recent note, QCP Capital said bitcoin’s recent price action reflects mechanical forces rather than a shift in sentiment. The firm wrote that holiday-thinned liquidity has amplified short-term moves, while last week’s large options expiry reset dealer positioning.

QCP added that roughly 50% of open interest rolled off after expiry, leaving significant capital sidelined and reinforcing the lack of directional conviction.

Prediction markets reflect this split. On Polymarket, tied to silver price levels by the end of January, show high confidence that prices remain elevated, with limited belief in a sharp collapse but only modest odds assigned to near-term blow-off tops.

Bitcoin markets, meanwhile, overwhelmingly price continuation of the current range. Traders assign a roughly 70% probability that bitcoin holds above $86,000 through early January, while the odds of a breakout above $92,000 fall below 25%.

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2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.

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aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy,
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Metaplanet (TYO: 3350), aka Asia’s MicroStrategy, on Tuesday said it has acquired an additional Bitcoin for over $451 million. The latest purchase came following an almost 8% drop in its stock price to 405 JPY as BTC price remains under selling pressure.

Metaplanet Expands Total Bitcoin Treasury to 35,102 BTC
Metaplanet Inc (TYO: 3350) purchased an additional 4279 BTC at an average price of $105,412 per coin during Q4 2025, according to an official announcement on December 30.

With the latest Bitcoin buy, the company expanded its total Bitcoin treasury to 35,102 BTC worth more than $3 billion. Metaplanet purchased these BTC for nearly $3.78 billion at an average price of $107,606 per BTC.

After the latest purchase, the company now sits at an unrealized loss of almost $520.34 million. The mNAV has dropped from 1.17 to 1.03 in a single day after the announcement.

Metaplanet also confirmed the payment completion for the issuance of 23,610,000 MERCURY Class B preferred shares through third-party allotment. Moreover, the company expects to record operating revenue of JPY 4.242 billion from its Bitcoin Income business in Q4 2025.

CEO Simon Gerovich also took to X to share about the latest BTC buy with shareholders and the crypto community. He revealed that the fourth-largest Bitcoin treasury has achieved a BTC yield of 568.2% year-to-date under the accelerated Bitcoin strategy.

Metaplanet has acquired 4279 BTC during Q4 2025 for $451.06 million at ~$105,412 per bitcoin and has achieved BTC Yield of 568.2% YTD 2025. As of 12/30/2025, we hold 35,102 $BTC acquired for ~$3.78 billion at ~$107,606 per bitcoin. $MTPLF $MPJPY pic.twitter.com/AFRldH4hVI

— Simon Gerovich (@gerovich) December 30, 2025

Metaplanet Stock Slips Amid Bitcoin Treasury Expansion
Metaplanet stock (TYO: 3350) price closed 7.95% to 405 JPY as BTC price failed to hold above $90K and fell below $87K over the past 24 hours. The 24-hour low and high were 403 and 421 JPY. Also, the 24-hour trading volume was lower than the average volume of almost 34 million.

According to Yahoo Finance, the stock price has climbed almost 2% this month as mNAV recovered above 1x amid institutional support.

As CoinGape reported earlier, Metaplanet shareholders approved all five management agendas to pave the way for buying more Bitcoin to reach a target of 100,000 BTC by 2026-end.

Meanwhile, United States-listed MTPLF stock closed 4.25% lower at $2.7 on Monday. The YTD 2025 return on MTPLF stock is 16%. Whereas, MPJPY tumbled 4.20% to $2.74 on Friday, extending its fall to nearly 6% since its debut weeks ago.

Bitcoin Remains Under Pressure
BTC price dropped more than 2% to trade at $87,301 at the time of writing. The 24-hour low and high were $86,717 and $90,299, respectively. Trading volume has increased by 38% over the last 24 hours.

CoinGlass data showed mixed sentiment in the derivatives market as the total BTC futures open interest fell more than 5% to $57.41 billion in the last 24 hours. Meanwhile, BTC futures open interest on CME and Binance dropped by almost 12% and 5%, respectively.

Novo Nordisk has had a difficult year: a tumbling stock price resulting in the biggest leadership shakeup in the company's 100-year history as investors turned their back on the Danish drugmaker and its weight loss business.

It seemed investors had largely given up on Novo's ability to translate its strides in pioneering GLP-1 drugs to financial gains as the lucrative market attracts new players. Scientists, however, say that the medicine still has potential.

What started with a focus on the drug's ability to manage weight and blood sugar, and combat related conditions such as heart disease, is now expanding further with growing interest in how it might also impact the brain.

Semaglutide, or as it is better known, Ozempic and Wegovy, is a GLP-1 receptor agonist that was originally developed for diabetes patients to manage their blood sugar levels. However, it quickly became prescribed by doctors off-label en masse as its appetite surpressing and weight-loss properties became known. Today, it is approved for anti-obesity purposes and brings in billions annually for its maker, Novo Nordisk.

Now, the medical community is discovering a growing list of added benefits from these drugs.

"Wegovy promotes weight loss and potentially other mechanisms not fully understood," the U.S. Food and Drug Administration wrote in a statement in August when it approved the drug for treating liver disease. Semaglutide is also cleared by regulators to reduce the risk of heart attacks and strokes in overweight people with cardiovascular disease, as well as to treat chronic kidney disease in diabetes patients. 

Meanwhile, a rival drug by U.S. competitor Eli Lilly, tirzepatide (known as Mounjaro and Zepbound), which also targets the GLP-1 hormone as well as another gut hormone called GIP, is approved for treating moderate to severe obstructive sleep apnea in adults with obesity.

But the benefits may not end there. Amid increased competition, additional indications have become a new frontier for drug developers alongside new formats like pills.

GLP-1s and the brainObservational studies have shown that GLP-1s appear to quiet cravings not just for food, but also for alcohol, tobacco, and recreational drugs, as they affect the brain's reward pathway. By seemingly changing dopamine signals in the brain, these drugs could reduce cravings and allow the individual to be more rational when faced with tempting options.

"There is interest in understanding the potential of semaglutide on various brain functions," Laura Nisenbaum, executive director at Alzheimer's Drug Discovery Foundation (ADDF), told CNBC.

"Understanding that inflammation and energy usage in the brain is going to be so important for our normal cognitive function," Nisenbaum said. Recognizing that link will be useful in many different neurological and neuropsychiatric indications where changes or damage to the brain impact mood, behavior or cognition, she added.

Read more

Evolving data suggest that semaglutide and rival drug tirzepatide made by Eli Lilly might be the first effective "anticonsumption" agents with the potential to treat excessive food cravings, obesity, alcohol consumption, nicotine addiction, recreational drug use, and even uncontrollable shopping behaviors, a study by researchers at Saint Luke's Mid America Heart Institute and University of Missouri found.  

Another small-scale randomized clinical trial found that low-dose semaglutide reduced alcohol consumption and significantly reduced cravings compared to placebo in patients with alcohol use disorder over nine weeks of treatment. The results justify larger clinical trials of incretin therapies for alcohol use disorder, the researchers concluded.

The Alzheimer's disappointment that wasn'tAnother potential added benefit of this class of drugs could be how it interacts with the dementia process.

In November, Novo disappointed investors when it published data on a two-year-long clinical trial testing whether semaglutide could slow down cognitive decline in patients with Alzheimer's disease.

Hopes had run high that the medicine might be able to help people suffering from the most common type of dementia, as it had been observed in real-world studies that diabetes patients taking semaglutide developed Alzheimer's at a lower rate than those who didn't.

But the late-stage trial failed to meet its main goal, showing that semaglutide didn't significantly impact cognition in Alzheimer's patients. Novo said it would discontinue a one-year extension of the trial due to the results.

However, some scientists told CNBC it shouldn't be seen as a failure. They say that even if the results were disappointing, it was a well-conducted trial that the science community was able to learn from.

watch now

"It just gave a negative result as far as the drug is concerned in that particular population," said Ivan Koychev, associate professor in neuropsychiatry at Imperial College London. 

Semaglutide however, affects Alzheimer's disease proteins in the right direction, as seen in biomarker measures, Koychev said. "They're impacting Alzheimer's disease-linked proteins, they reduce their quantity in the cerebrospinal fluid, which suggests that it is interacting directly with the alternative pathology."

There was also an observed reduction in systemic inflammation biomarkers, according to Novo. "The thinking is that it may be this anti-inflammatory effect that, if it is implemented early enough in the disease process, you can substantially modify the risk of dementia," Koychev said.

"The signal was always in the prevention space rather than the treatment space," he added.

Similarly, Nisenbaum said a next useful step would be to test semaglutide and other GLP-1s earlier in the course of the disease as a preventative therapy.

Novo Nordisk said it was reviewing all data from the trial, but that it was too early to speculate any further on the effect semaglutide might have on dementia patients.

The science versus the StreetDespite the fact that the innovations developed by Novo have the potential to significantly impact public health, many investors have turned their back on the company over the past 18 months as its growth prospects face challenges.

Novo shares are having their worst year on record since listing on Nasdaq Copenhagen over three decades ago. At its peak in mid-2024, the stock traded at above 1,000 Danish kroner. Today, it trades at around 320 kroner.

The stock's year-to-date drop of 50% is being driven by increased competition from U.S. rival Eli Lilly and so-called compounding pharmacies making cheaper, copycat versions of semaglutide. A failure to convince investors that its pipeline will bring significant financial gains amid a flurry of hopeful market entrants also adds to the pressure.

Stock Chart IconStock chart icon

Novo Nordisk shares in the year-to-date

The Alzheimer's trial data readout in November led shares to drop 5.8% on the day, despite analysts saying it was always a long shot and Novo management themselves called it a "lottery ticket," — underlining its highly uncertain outcome.

The two Alzheimer's drugs currently on the market, Eli Lilly's Kisunla and Biogen/Eisai's Leqembi have been shown to slow down the progression of Alzheimer's disease by up to a third but come with the risk of severe side effects.

These medicines were studied 15 years ago, and there were many negative studies along the way, ADDF's Nisenbaum said. "Each one, we learned something that then led to an improvement in understanding our patients in the clinical trials and then how to measure what's happening in them."

"It's absolutely about the long game," she added, hopeful that semaglutide or other novel drugs that target risk factors could be used in combination with Kisunla and Leqembi.

But the market doesn't see it like that, and there are many reasons why.

First of all, investors' time horizons are much shorter than the decades-long process it typically takes to bring a drug to market, meaning pharmaceutical development often clashes with the speedier pace of public markets. Adding new indicators for a drug also takes time, as they need to be backed up by often lengthy clinical trials.

watch now

Secondly, semaglutide is facing key patent expiries in 2031 and 2032, which will give the green light to others to make generic versions of semaglutide.

"We don't see a good argument for a valuation floor," Jefferies analysts said late November, noting that Novo now enters the 5-year patent expiry window with no real moat.

"Lower U.S. prices may stimulate additional volume demand and enhance patient retention, but we are not of the view that, at these prices, generics and compounders cannot compete," they added, rating shares at Underperform.

Pressure from the Trump administration to lower drug prices for Americans, and the threat of high import taxes, have served as additional headwinds for Novo, as well as for many of its pharma peers over the past year.

Goldman Sachs analysts, led by James Quigley, are slightly more optimistic. "We remain Buy-rated on Novo Nordisk, as while expectations have reset sharply downwards for near/medium-term estimates, we continue to believe there could be some volume opportunity for Novo as the obesity market evolves," they wrote in a note late November.

"While Novo are unlikely to take a leading share, we still see opportunities for Wegovy, CagriSema and oral Wegovy to drive value in excess of what the market currently believes, although we acknowledge that this will likely take time and evidence of an uptick in scripts before investors give credit," they added.

The Next share price had a great performance in 2025 as its growth trajectory continued. NXT rose by 44% this year, beating the FTSE 100 Index, which jumped by ~20%.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

TORONTO, Dec. 30, 2025 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the final annual reinvested capital gains distributions for the iShares ETFs listed on the TSX or Cboe Canada for the 2025 tax year.

The distributions are for the annual non-cash capital gains distributions, which are typically reinvested in additional units of the respective funds at the year-end, and do not include ongoing monthly, quarterly, semi-annual, or annual cash distribution amounts. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will equal the number of units outstanding prior to the distribution.

The record date for the 2025 annual distributions will be December 30, 2025, payable on January 5, 2026. The actual taxable amounts of reinvested and cash distributions for 2025, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or “CDS”) in early 2026.

Details regarding the “per unit” distribution amounts are as follows:

Fund NameFund TickerReinvested Capital Gains Distribution Per UnitiShares 1-10 Year Laddered Corporate Bond Index ETFCBH0.00000iShares 1-5 Year Laddered Corporate Bond Index ETFCBO0.00000iShares S&P/TSX Canadian Dividend Aristocrats Index ETFCDZ1.55658iShares Equal Weight Banc & Lifeco ETFCEW0.72763iShares Gold Bullion ETFCGL0.00000iShares Gold Bullion ETFCGL.C0.00000iShares Global Real Estate Index ETFCGR0.00000iShares International Fundamental Index ETFCIE1.08684iShares Global Infrastructure Index ETFCIF2.89966iShares Japan Fundamental Index ETF (CAD-Hedged)CJP2.71248iShares 1-5 Year Laddered Government Bond Index ETFCLF0.00000iShares 1-10 Year Laddered Government Bond Index ETFCLG0.00000iShares US Fundamental Index ETFCLU2.28706iShares US Fundamental Index ETFCLU.C2.78757iShares Premium Money Market ETF(2)CMR0.00650iShares Global Agriculture Index ETFCOW2.41679iShares S&P/TSX Canadian Preferred Share Index ETFCPD0.00000iShares Canadian Fundamental Index ETFCRQ1.09755iShares US Dividend Growers Index ETF (CAD-Hedged)CUD2.60005iShares Convertible Bond Index ETFCVD0.00000iShares Emerging Markets Fundamental Index ETFCWO1.02000iShares Global Water Index ETFCWW1.23519iShares Global Monthly Dividend Index ETF (CAD-Hedged)CYH0.14839iShares Canadian Financial Monthly Income ETFFIE0.27141iShares ESG Balanced ETF PortfolioGBAL1.06486iShares ESG Conservative Balanced ETF PortfolioGCNS0.67823iShares ESG Equity ETF PortfolioGEQT1.78370iShares ESG Growth ETF PortfolioGGRO1.66202iShares Bitcoin ETFIBIT0.28231iShares Bitcoin ETF(1)IBIT.U0.22702iShares Silver Bullion ETFSVR0.00000iShares Silver Bullion ETFSVR.C0.00000iShares U.S. Aerospace & Defense Index ETFXAD1.14998iShares U.S. Aggregate Bond Index ETFXAGG0.21558iShares U.S. Aggregate Bond Index ETF(1)XAGG.U0.16136iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)XAGH0.00000iShares Core MSCI All Country World ex Canada Index ETFXAW0.41687iShares Core MSCI All Country World ex Canada Index ETF(1)XAW.U0.31141iShares Core Balanced ETF PortfolioXBAL0.46346iShares Core Canadian Universe Bond Index ETFXBB0.00000iShares S&P/TSX Global Base Metals Index ETFXBM0.00000iShares Core Canadian Corporate Bond Index ETFXCB0.00000iShares ESG Advanced Canadian Corporate Bond Index ETFXCBG0.00000iShares U.S. IG Corporate Bond Index ETFXCBU0.00000iShares U.S. IG Corporate Bond Index ETF(1)XCBU.U0.00000iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)XCD0.00000iShares Canadian Growth Index ETFXCG5.22120iShares China Index ETFXCH0.00000iShares Semiconductor Index ETFXCHP0.00000iShares Global Clean Energy Index ETFXCLN0.49921iShares Core Conservative Balanced ETF PortfolioXCNS0.20779iShares S&P/TSX SmallCap Index ETFXCS1.18596iShares ESG Advanced MSCI Canada Index ETFXCSR2.69143iShares Canadian Value Index ETFXCV1.61517iShares Core MSCI Global Quality Dividend Index ETFXDG0.39266iShares Core MSCI Global Quality Dividend Index ETF(1)XDG.U0.29044iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)XDGH0.00000iShares Core MSCI Canadian Quality Dividend Index ETFXDIV0.76519iShares Genomics Immunology and Healthcare Index ETFXDNA0.00000iShares Global Electric and Autonomous Vehicles Index ETFXDRV0.00000iShares ESG Advanced MSCI EAFE Index ETFXDSR0.48943iShares Core MSCI US Quality Dividend Index ETFXDU1.22853iShares Core MSCI US Quality Dividend Index ETF(1)XDU.U0.89995iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)XDUH0.59442iShares Canadian Select Dividend Index ETFXDV1.36895iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged)XEB0.00000iShares Core MSCI Emerging Markets IMI Index ETFXEC0.00000iShares Core MSCI Emerging Markets IMI Index ETF(1)XEC.U0.00000iShares Core MSCI EAFE IMI Index ETFXEF0.32991iShares Core MSCI EAFE IMI Index ETF(1)XEF.U0.23937iShares S&P/TSX Capped Energy Index ETFXEG0.00000iShares MSCI Europe IMI Index ETF (CAD-Hedged)XEH0.00000iShares S&P/TSX Composite High Dividend Index ETFXEI0.52790iShares MSCI Emerging Markets Index ETFXEM0.00000iShares MSCI Emerging Markets ex China Index ETFXEMC0.00000iShares Jantzi Social Index ETFXEN0.00000iShares Core Equity ETF PortfolioXEQT0.32215iShares ESG Aware MSCI Canada Index ETFXESG1.18695iShares S&P/TSX Energy Transition Materials Index ETFXETM0.00000iShares MSCI Europe IMI Index ETFXEU0.00000iShares Exponential Technologies Index ETFXEXP3.56592iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)XFH0.00000iShares Core Canadian 15+ Year Federal Bond Index ETFXFLB0.00000iShares Flexible Monthly Income ETFXFLI0.00000iShares Flexible Monthly Income ETF(1)XFLI.U0.00000iShares Flexible Monthly Income ETF (CAD-Hedged)XFLX0.00000iShares S&P/TSX Capped Financials Index ETFXFN0.00000iShares Floating Rate Index ETFXFR0.00000iShares Core Canadian Government Bond Index ETFXGB0.00000iShares S&P/TSX Global Gold Index ETFXGD0.00000iShares Global Government Bond Index ETF (CAD-Hedged)XGGB0.00000iShares S&P Global Industrials Index ETF (CAD-Hedged)XGI0.00000iShares Core Growth ETF PortfolioXGRO0.43842iShares Cybersecurity and Tech Index ETFXHAK2.91694iShares Canadian HYBrid Corporate Bond Index ETFXHB0.00000iShares Global Healthcare Index ETF (CAD-Hedged)XHC0.00000iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)XHD1.87303iShares U.S. High Dividend Equity Index ETFXHU2.23706iShares U.S. High Yield Bond Index ETF (CAD-Hedged)XHY0.00000iShares Core S&P/TSX Capped Composite Index ETFXIC0.00000iShares India Index ETFXID0.38930iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged)XIG0.00000iShares 1-5 Year U.S. IG Corporate Bond Index ETF (CAD-Hedged)XIGS0.00000iShares MSCI EAFE® Index ETF (CAD-Hedged)XIN0.00000iShares Core Income Balanced ETF PortfolioXINC0.00000iShares S&P/TSX Capped Information Technology Index ETFXIT3.41358iShares S&P/TSX 60 Index ETFXIU0.00000iShares Core Canadian Long Term Bond Index ETFXLB0.00000iShares S&P/TSX Capped Materials Index ETFXMA0.00000iShares S&P U.S. Mid-Cap Index ETFXMC0.00000iShares S&P U.S. Mid-Cap Index ETF(1)XMC.U0.00000iShares S&P/TSX Completion Index ETFXMD0.00000iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged)XMH0.00000iShares MSCI Min Vol EAFE Index ETFXMI0.00000iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)XML0.00000iShares MSCI Min Vol Emerging Markets Index ETFXMM0.00000iShares MSCI Min Vol USA Index ETF (CAD-Hedged)XMS0.90086iShares MSCI USA Momentum Factor Index ETFXMTM0.94016iShares MSCI Min Vol USA Index ETFXMU2.85421iShares MSCI Min Vol USA Index ETF(1)XMU.U2.07267iShares MSCI Min Vol Canada Index ETFXMV2.14287iShares MSCI Min Vol Global Index ETFXMW0.37145iShares MSCI Min Vol Global Index ETF (CAD-Hedged)XMY0.00000iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged)XPF0.00000iShares High Quality Canadian Bond Index ETFXQB0.00000iShares MSCI USA Quality Factor Index ETFXQLT0.00000iShares NASDAQ 100 Index ETF (CAD-Hedged)XQQ1.35318iShares NASDAQ 100 Index ETFXQQU0.00000iShares NASDAQ 100 Index ETF(1)XQQU.U0.00000iShares Canadian Real Return Bond Index ETFXRB0.00000iShares S&P/TSX Capped REIT Index ETFXRE0.00000iShares ESG Aware Canadian Aggregate Bond Index ETFXSAB0.00000iShares Core Canadian Short Term Bond Index ETFXSB0.00000iShares Conservative Short Term Strategic Fixed Income ETFXSC0.00000iShares Conservative Strategic Fixed Income ETFXSE0.00000iShares ESG Aware MSCI EAFE Index ETFXSEA0.70078iShares ESG Aware MSCI Emerging Markets Index ETFXSEM0.54263iShares Core Canadian Short Term Corporate Bond Index ETFXSH0.00000iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETFXSHG0.00000iShares 1-5 Year U.S. IG Corporate Bond Index ETFXSHU0.32039iShares 1-5 Year U.S. IG Corporate Bond Index ETF(1)XSHU.U0.23237iShares Short Term Strategic Fixed Income ETFXSI0.00000iShares Core Canadian Short-Mid Term Universe Bond Index ETFXSMB0.00000iShares S&P U.S. Small-Cap Index ETFXSMC0.00000iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged)XSMH0.00000iShares Core S&P 500 Index ETF (CAD-Hedged)XSP0.00000iShares S&P 500 3% Capped Index ETF (CAD-Hedged)XSPC0.00000iShares S&P/TSX Capped Consumer Staples Index ETFXST0.74225iShares ESG Aware Canadian Short Term Bond Index ETFXSTB0.00000iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged)XSTH0.00000iShares 0-5 Year TIPS Bond Index ETFXSTP0.16723iShares 0-5 Year TIPS Bond Index ETF(1)XSTP.U0.11483iShares U.S. Small Cap Index ETF (CAD-Hedged)XSU0.00000iShares ESG Aware MSCI USA Index ETFXSUS0.71709iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)XTLH0.00000iShares 20+ Year U.S. Treasury Bond Index ETFXTLT0.14602iShares 20+ Year U.S. Treasury Bond Index ETF(1)XTLT.U0.12407iShares Core S&P Total U.S. Stock Market Index ETF (CAD-Hedged)XTOH0.02178iShares Core S&P Total U.S. Stock Market Index ETFXTOT0.00000iShares Core S&P Total U.S. Stock Market Index ETF(1)XTOT.U0.00000iShares Diversified Monthly Income ETFXTR0.32869iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)XUH0.00000iShares Core S&P 500 Index ETFXUS0.00000iShares Core S&P 500 Index ETF(1)XUS.U0.00000iShares S&P 500 3% Capped Index ETFXUSC0.00000iShares S&P 500 3% Capped Index ETF(1)XUSC.U0.00000iShares S&P U.S. Financials Index ETFXUSF0.00000iShares ESG Advanced MSCI USA Index ETFXUSR2.26920iShares S&P/TSX Capped Utilities Index ETFXUT1.08798iShares Core S&P U.S. Total Market Index ETFXUU0.00000iShares Core S&P U.S. Total Market Index ETF(1)XUU.U0.00000iShares MSCI USA Value Factor Index ETFXVLU0.00000iShares MSCI World Index ETFXWD0.00000 (1) Distribution per unit amounts are in U.S. dollars for IBIT.U, XAGG.U, XAW.U, XCBU.U, XDG.U, XDU.U, XEC.U, XEF.U, XFLI.U, XMC.U, XMU.U, XQQU.U, XSHU.U, XSTP.U, XTLT.U, XTOT.U, XUS.U, XUSC.U, and XUU.U.

(2) For iShares Premium Money Market ETF (CMR), the distribution amount may include an income component.

Further information on the iShares ETFs can be found at http://www.blackrock.com/ca.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

About iShares ETFs

iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of approximately 1,700 exchange traded funds (ETFs) and approximately US$5.2 trillion in assets under management as of September 30, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

iShares® ETFs are managed by BlackRock Canada.

Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.  

Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”). Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). TSX is a registered trademark of TSX Inc. (“TSX”). All of the foregoing trademarks have been licensed to S&P Dow Jones Indices LLC and sublicensed for certain purposes to BlackRock Fund Advisors (“BFA”), which in turn has sub-licensed these marks to its affiliate, BlackRock Asset Management Canada Limited (“BlackRock Canada”), on behalf of the applicable fund(s). The index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by BFA and by extension, BlackRock Canada and the applicable fund(s). The funds are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, any of their respective affiliates (collectively known as “S&P Dow Jones Indices”) or TSX, or any of their respective affiliates. Neither S&P Dow Jones Indices nor TSX make any representations regarding the advisability of investing in such funds.

MSCI is a trademark of MSCI, Inc. (“MSCI”). The ETF is permitted to use the MSCI mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the Index. BlackRock Institutional Trust Company, N.A. has sublicensed the use of this trademark to BlackRock. The ETF is not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in the ETF.

Contact for Media:
Sydney Punchard
Email: [email protected]

December 30, 2025 02:00 ET

 | Source:

ICG PLC

BLOCK LISTING SIX MONTHLY RETURN

Date: 30 December 2025

Name of applicant:ICG plcName of scheme:Save As You Earn Plan 2004Period of return:From:29 June 2025To:29 December 2025Balance of unallotted securities under scheme(s) from previous return:65,857Plus:  The amount by which the block scheme has been increased since the date of the last return (if any increase has been applied for):NilLess:  Number of securities issued/allotted under scheme during period (see UKLR 20.6.7G):2,303Equals:  Balance under scheme(s) not yet issued/allotted at end of period:63,554      Name of contact:Andrew LewisTelephone number of contact:+44 (0)20 3545 2000

The company is still largely in an idea stage.

It would be hard to find someone who isn't aware of artificial intelligence (AI) after it has gone mainstream over the past couple of years. However, I'm willing to bet that most people aren't aware of just how much power is required for AI to function as it does today.

Today's data centers -- which are critical for training and deploying AI -- can use enough power in a month to power thousands of homes for a year. That's an issue Nano Nuclear Energy (NNE 7.27%) is aiming to address with its micro nuclear reactors. Despite these ambitious plans, it's a stock I'm staying far away from for the foreseeable future.

Image source: Getty Images.

What Nano Nuclear is promising
The idea behind Nano Nuclear's micro nuclear reactors is to have a portable power plant that can be shipped and deployed virtually anywhere that a steady stream of electricity is needed.

This is a much better alternative than relying on diesel or power grids, as the former causes significant pollution and the latter can't keep up with AI demand. In theory, the technology would provide ready-to-go energy that could last nearly 20 years without refueling.

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$

26.42

Why I'm steering clear of Nano Nuclear
The problem with Nano Nuclear's business idea is that it's just that: An idea. At this time, the company doesn't have a tangible product available for commercial use. This means it doesn't have any revenue coming in, yet it's spending millions on research and development, trying to develop a product that can get government approval.

Nano Nuclear's product would need to get approval from the Nuclear Regulatory Commission, which is notoriously strict when it comes to approving new nuclear energy designs. It's a process that will take years, in all likelihood, and that's assuming Nano Nuclear doesn't run out of cash or face any setbacks before getting to that point.

In reality, it's a business that could be at least a decade away from selling a working reactor and generating any profit.

Unfortunately, there are larger, more established companies (like TerraPower and NuScale Power) with bigger bank accounts that are also working on the same idea. These companies have a much longer leash when it comes to bringing the ideas to life, which somewhat makes Nano Nuclear the underdog in this race.

If I'm putting my money into a stock, I need more than just an idea that could take years to materialize. I can stomach a growth company that's not yet profitable. I personally can't stomach one that's pre-revenue.

DULUTH, Ga.--(BUSINESS WIRE)--The latest Primerica Household Budget Index™ (HBI™) data, a monthly economic metric that examines how inflation and wage trends impact the ability of middle-income families to afford life's everyday necessities, is estimated at 100.7% in November, a slight increase of 0.2% from a year ago. The Consumer Price Index (CPI), which measures inflation for a comprehensive basket of goods for all U.S. households, recorded inflation at 2.7% in November compared to a year ag.

December 30, 2025 00:17 ET

 | Source:

Society Pass Incorporated

NEW YORK, Dec. 30, 2025 (GLOBE NEWSWIRE) -- Society Pass Incorporated (Nasdaq: SOPA) (the “Company”), Southeast Asia’s (SEA) next generation e-commerce ecosystem, today announced the pricing of its best efforts public offering of an aggregate of 1,500,000 shares of its common stock (or common stock equivalents in lieu thereof) at a public offering price of $2.00 per share (or per common stock equivalent in lieu thereof), for aggregate gross proceeds of $3 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The offering is expected to close on December 31, 2025, subject to satisfaction of customary closing conditions.

Rodman & Renshaw LLC is acting as the exclusive placement agent for the offering.

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including operating expenses and capital expenditures.

The securities are being offered and sold pursuant to a registration statement on Form S-1 (File No. 333-292060), which was declared effective by the Securities and Exchange Commission (the “SEC”) on December 29, 2025. The offering is being made only by means of a prospectus forming part of the effective registration statement relating to the offering. A preliminary prospectus relating to the offering has been filed with the SEC and a final prospectus relating to the offering will be filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at http://www.sec.gov and may also be obtained, when available, by contacting Rodman & Renshaw LLC at 600 Lexington Avenue, 32nd Floor, New York, NY 10022, by telephone at (212) 540-4414, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Society Pass Inc.
Founded in 2018 as an e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 3 interconnected verticals (digital media, travel, and lifestyle). Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.

For more information on Society Pass, please visit:

Website at https://www.thesocietypass.com or

LinkedIn at https://www.linkedin.com/company/societypass or

Facebook at https://www.facebook.com/thesocietypass or

X at https://twitter.com/society_pass or

Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of the proceeds. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Society Pass Incorporated’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including the trading price and volatility of Society Pass Incorporated’s common stock and risks relating to Society Pass Incorporated’s business, including the Company’s ability to develop and successfully change its business model and the Company’s ability to identify new investments and spin-off acquisitions.

Media Contact:
Raynuald LIANG
Chief Executive Officer
[email protected]

HomeETFs and Funds AnalysisETF Analysis

SummaryThe U.S. bond market rose in the third quarter due to falling bond yields.The fund outperformed its benchmark, the ICE BofA U.S. All Capital Securities Index.Security selection within the electric utility sector was the primary contributor to outperformance, while an underweight allocation to the insurance sector was the main detractor.For the quarter, short-term bond yields fell sharply, reflecting the Fed rate cut, while the decline in intermediate- and long-term bond yields was more muted.In conclusion, there are still attractive opportunities to generate income within credit and spread sectors, with potential for spread compression and limited risk of permanent capital loss. Baris-Ozer/iStock via Getty Images

Highlights The U.S. bond market rose in the third quarter due to falling bond yields. The fund outperformed its benchmark, the ICE BofA U.S. All Capital Securities Index (ICEBOFA). Security selection within the electric utility

Alphabet (GOOGL +0.01%) (GOOG 0.18%) and Microsoft (MSFT 0.13%) are two of the largest cloud computing companies in the world, and both have been seeing strong growth as a result of artificial intelligence (AI). However, in 2025, Alphabet's stock clearly shone; it's up around 65% as of this writing, compared to about a 16% gain for Microsoft.

Let's see which stock is best positioned to outperform in 2026.

The case for Microsoft
Microsoft was hitting on all cylinders in 2025, although its stock still slightly trailed the performance of the S&P 500 heading into the final week of trading. Last quarter, the company grew its total revenue by 18% year over year and its adjusted earnings per share (EPS) by 23%, as it saw strength across segments.

The growth is being led by its cloud computing unit, Azure, which has been the fastest growing of the big three cloud providers. Last quarter, Azure revenue surged 40%, driven by demand for AI services. It was the ninth consecutive quarter of 30% or more growth for Azure. Growth could have been even more robust if Azure were not capacity-constrained, and Microsoft said, given accelerated demand, that its capital expenditures (capex) will now grow at a quicker pace in fiscal 2026 versus last year.

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487.08

Microsoft continues to have strong ties to OpenAI, with whom it owns a 27% stake. It also has exclusive intellectual property rights and privileged application programming interface access to its large language models (LLMs) through 2032. This, combined with OpenAI making an additional $250 billion in computing commitments, should help continue to drive strong growth in the coming years. The company has also struck a deal with Anthropic.

At the same time, Microsoft has incorporated OpenAI's technology throughout its products -- such as its AI assistant copilots -- which is also helping to drive growth. An expected July price hike for Microsoft 365 enterprise users should boost revenue next year.

The case for Alphabet
Similar to Microsoft, Alphabet's growth is being led by its cloud computing unit, Google Cloud. Last quarter, Google Cloud revenue soared 34%, while its segment operating income surged 84%. Although its revenue growth is a bit slower, the company has some strong advantages that should start to become more pronounced in 2026.

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Its biggest edge is its custom AI chips, called Tensor Processing Units (TPUs). While Microsoft has developed its own custom AI chips, they are far behind Alphabet's TPUs, which were created more than a decade ago and have been tightly woven into its system. This gives it a large structural cost advantage over Microsoft, which is still reliant on Nvidia's graphics processing units (GPUs). Alphabet's TPUs are so good that Anthropic has placed a big order for them to run some of its AI workloads.

Alphabet has also developed Gemini, one of the top LLMs in the world and another long-term advantage over Microsoft, which largely depends on OpenAI. This gives it not only more flexibility as it incorporates Gemini throughout its products but also more revenue streams. Meanwhile, by having both top-tier chips and AI models, Alphabet has created a flywheel effect that Microsoft just does not have.

Image source: Getty Images.

The verdict
Alphabet and Microsoft trade at similar valuations. Alphabet trades at a forward price-to-earnings (P/E) ratio of 28 times 2026 analyst estimates, while Microsoft trades at 30 times fiscal 2026 (ending June 2026) estimates and 26 times fiscal 2027 estimates. Given their valuation and growth outlooks, I think both stocks can perform well next year.

However, I think that, ultimately, Alphabet's stock will once again outperform. The company has a long-term advantage in having the most complete AI tech stack, and that should become more noticeable next year, especially if it starts renting out its TPUs to more customers. Meanwhile, if Google search revenue continues to accelerate, driven by its AI initiatives, investors will likely start to bid up the stock.

TORONTO, Dec. 29, 2025 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the final December cash distributions for the iShares ETFs listed on the TSX or Cboe Canada. Unitholders of record of a fund on December 30, 2025 will receive cash distributions payable in respect of that fund on January 5, 2026.

Details regarding the “per unit” distribution amounts are as follows:

Fund NameFund
TickerCash
Distribution
Per UnitiShares 1-10 Year Laddered Corporate Bond Index ETFCBH0.05000iShares 1-5 Year Laddered Corporate Bond Index ETFCBO0.05300iShares S&P/TSX Canadian Dividend Aristocrats Index ETFCDZ0.11443iShares Equal Weight Banc & Lifeco ETFCEW0.06400iShares Gold Bullion ETFCGL0.00000iShares Gold Bullion ETFCGL.C0.00000iShares Global Real Estate Index ETFCGR0.13813iShares International Fundamental Index ETFCIE0.14336iShares Global Infrastructure Index ETFCIF0.15654iShares Japan Fundamental Index ETF (CAD-Hedged)CJP0.24585iShares 1-5 Year Laddered Government Bond Index ETFCLF0.03300iShares 1-10 Year Laddered Government Bond Index ETFCLG0.03700iShares US Fundamental Index ETFCLU0.27837iShares US Fundamental Index ETFCLU.C0.33928iShares Premium Money Market ETFCMR0.13341iShares Global Agriculture Index ETFCOW0.58334iShares S&P/TSX Canadian Preferred Share Index ETFCPD0.05800iShares Canadian Fundamental Index ETFCRQ0.12508iShares US Dividend Growers Index ETF (CAD-Hedged)CUD0.12093iShares Convertible Bond Index ETFCVD0.07400iShares Emerging Markets Fundamental Index ETFCWO0.73436iShares Global Water Index ETFCWW0.13731iShares Global Monthly Dividend Index ETF (CAD-Hedged)CYH0.07300iShares Canadian Financial Monthly Income ETFFIE0.04004iShares ESG Balanced ETF PortfolioGBAL0.16363iShares ESG Conservative Balanced ETF PortfolioGCNS0.22368iShares ESG Equity ETF PortfolioGEQT0.21204iShares ESG Growth ETF PortfolioGGRO0.29271iShares Bitcoin ETFIBIT0.00000iShares Bitcoin ETF(1)IBIT.U0.00000iShares Silver Bullion ETFSVR0.00000iShares Silver Bullion ETFSVR.C0.00000iShares U.S. Aerospace & Defense Index ETFXAD0.22995iShares U.S. Aggregate Bond Index ETFXAGG0.25879iShares U.S. Aggregate Bond Index ETF(1)XAGG.U0.19372iShares U.S. Aggregate Bond Index ETF (CAD-Hedged)XAGH0.21384iShares Core MSCI All Country World ex Canada Index ETFXAW0.31756iShares Core MSCI All Country World ex Canada Index ETF(1)XAW.U0.23613iShares Core Balanced ETF PortfolioXBAL0.20726iShares Core Canadian Universe Bond Index ETFXBB0.08000iShares S&P/TSX Global Base Metals Index ETFXBM0.10302iShares Core Canadian Corporate Bond Index ETFXCB0.06900iShares ESG Advanced Canadian Corporate Bond Index ETFXCBG0.12400iShares U.S. IG Corporate Bond Index ETFXCBU0.12700iShares U.S. IG Corporate Bond Index ETF(1)XCBU.U0.09061iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)XCD4.83705iShares Canadian Growth Index ETFXCG0.01083iShares China Index ETFXCH0.26944iShares Semiconductor Index ETFXCHP0.14199iShares Global Clean Energy Index ETFXCLN0.22697iShares Core Conservative Balanced ETF PortfolioXCNS0.18130iShares S&P/TSX SmallCap Index ETFXCS0.05793iShares ESG Advanced MSCI Canada Index ETFXCSR0.40312iShares Canadian Value Index ETFXCV0.29618iShares Core MSCI Global Quality Dividend Index ETFXDG0.09359iShares Core MSCI Global Quality Dividend Index ETF(1)XDG.U0.06891iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)XDGH0.15639iShares Core MSCI Canadian Quality Dividend Index ETFXDIV0.12100iShares Genomics Immunology and Healthcare Index ETFXDNA0.00242iShares Global Electric and Autonomous Vehicles Index ETFXDRV1.14082iShares ESG Advanced MSCI EAFE Index ETFXDSR0.30173iShares Core MSCI US Quality Dividend Index ETFXDU0.10194iShares Core MSCI US Quality Dividend Index ETF(1)XDU.U0.07481iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)XDUH0.06763iShares Canadian Select Dividend Index ETFXDV0.10900iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged)XEB0.16096iShares Core MSCI Emerging Markets IMI Index ETFXEC0.35769iShares Core MSCI Emerging Markets IMI Index ETF(1)XEC.U0.27153iShares Core MSCI EAFE IMI Index ETFXEF0.41452iShares Core MSCI EAFE IMI Index ETF(1)XEF.U0.30260iShares S&P/TSX Capped Energy Index ETFXEG0.17827iShares MSCI Europe IMI Index ETF (CAD-Hedged)XEH0.30439iShares S&P/TSX Composite High Dividend Index ETFXEI0.11400iShares MSCI Emerging Markets Index ETFXEM0.51619iShares MSCI Emerging Markets ex China Index ETFXEMC0.98825iShares Jantzi Social Index ETFXEN0.15733iShares Core Equity ETF PortfolioXEQT0.20536iShares ESG Aware MSCI Canada Index ETFXESG0.20304iShares S&P/TSX Energy Transition Materials Index ETFXETM0.00000iShares MSCI Europe IMI Index ETFXEU0.31555iShares Exponential Technologies Index ETFXEXP0.26029iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)XFH0.24171iShares Core Canadian 15+ Year Federal Bond Index ETFXFLB0.11300iShares Flexible Monthly Income ETFXFLI0.20172iShares Flexible Monthly Income ETF(1)XFLI.U0.16222iShares Flexible Monthly Income ETF (CAD-Hedged)XFLX0.19110iShares S&P/TSX Capped Financials Index ETFXFN0.14800iShares Floating Rate Index ETFXFR0.04525iShares Core Canadian Government Bond Index ETFXGB0.04900iShares S&P/TSX Global Gold Index ETFXGD0.17455iShares Global Government Bond Index ETF (CAD-Hedged)XGGB0.04100iShares S&P Global Industrials Index ETF (CAD-Hedged)XGI0.60096iShares Core Growth ETF PortfolioXGRO0.20651iShares Cybersecurity and Tech Index ETFXHAK0.00762iShares Canadian HYBrid Corporate Bond Index ETFXHB0.07500iShares Global Healthcare Index ETF (CAD-Hedged)XHC0.92139iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)XHD0.07500iShares U.S. High Dividend Equity Index ETFXHU0.07801iShares U.S. High Yield Bond Index ETF (CAD-Hedged)XHY0.08300iShares Core S&P/TSX Capped Composite Index ETFXIC0.28100iShares India Index ETFXID6.95500iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged)XIG0.07000iShares 1-5 Year U.S. IG Corporate Bond Index ETF (CAD-Hedged)XIGS0.22553iShares MSCI EAFE® Index ETF (CAD-Hedged)XIN0.69500iShares Core Income Balanced ETF PortfolioXINC0.22203iShares S&P/TSX Capped Information Technology Index ETFXIT0.00000iShares S&P/TSX 60 Index ETFXIU0.00000iShares Core Canadian Long Term Bond Index ETFXLB0.07070iShares S&P/TSX Capped Materials Index ETFXMA0.02384iShares S&P U.S. Mid-Cap Index ETFXMC0.23947iShares S&P U.S. Mid-Cap Index ETF(1)XMC.U0.17586iShares S&P/TSX Completion Index ETFXMD0.04283iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged)XMH0.20276iShares MSCI Min Vol EAFE Index ETFXMI0.54425iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged)XML0.39476iShares MSCI Min Vol Emerging Markets Index ETFXMM0.47137iShares MSCI Min Vol USA Index ETF (CAD-Hedged)XMS0.10717iShares MSCI USA Momentum Factor Index ETFXMTM0.08976iShares MSCI Min Vol USA Index ETFXMU0.24398iShares MSCI Min Vol USA Index ETF(1)XMU.U0.17749iShares MSCI Min Vol Canada Index ETFXMV0.26642iShares MSCI Min Vol Global Index ETFXMW0.49147iShares MSCI Min Vol Global Index ETF (CAD-Hedged)XMY0.37301iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged)XPF0.06400iShares High Quality Canadian Bond Index ETFXQB0.05400iShares MSCI USA Quality Factor Index ETFXQLT0.11475iShares NASDAQ 100 Index ETF (CAD-Hedged)XQQ0.08347iShares NASDAQ 100 Index ETFXQQU0.12415iShares NASDAQ 100 Index ETF(1)XQQU.U0.08966iShares Canadian Real Return Bond Index ETFXRB0.00000iShares S&P/TSX Capped REIT Index ETFXRE0.06800iShares ESG Aware Canadian Aggregate Bond Index ETFXSAB0.04900iShares Core Canadian Short Term Bond Index ETFXSB0.07000iShares Conservative Short Term Strategic Fixed Income ETFXSC0.14407iShares Conservative Strategic Fixed Income ETFXSE0.20634iShares ESG Aware MSCI EAFE Index ETFXSEA0.28425iShares ESG Aware MSCI Emerging Markets Index ETFXSEM0.26723iShares Core Canadian Short Term Corporate Bond Index ETFXSH0.06200iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETFXSHG0.12300iShares 1-5 Year U.S. IG Corporate Bond Index ETFXSHU0.23748iShares 1-5 Year U.S. IG Corporate Bond Index ETF(1)XSHU.U0.17133iShares Short Term Strategic Fixed Income ETFXSI0.10856iShares Core Canadian Short-Mid Term Universe Bond Index ETFXSMB0.24058iShares S&P U.S. Small-Cap Index ETFXSMC0.23125iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged)XSMH0.20468iShares Core S&P 500 Index ETF (CAD-Hedged)XSP0.55599iShares S&P 500 3% Capped Index ETF (CAD-Hedged)XSPC0.26388iShares S&P/TSX Capped Consumer Staples Index ETFXST0.07595iShares ESG Aware Canadian Short Term Bond Index ETFXSTB0.04800iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged)XSTH0.19908iShares 0-5 Year TIPS Bond Index ETFXSTP0.24103iShares 0-5 Year TIPS Bond Index ETF(1)XSTP.U0.17231iShares U.S. Small Cap Index ETF (CAD-Hedged)XSU0.24117iShares ESG Aware MSCI USA Index ETFXSUS0.12203iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged)XTLH0.17168iShares 20+ Year U.S. Treasury Bond Index ETFXTLT0.13559iShares 20+ Year U.S. Treasury Bond Index ETF(1)XTLT.U0.10194iShares Core S&P Total U.S. Stock Market Index ETF (CAD-Hedged)XTOH0.16753iShares Core S&P Total U.S. Stock Market Index ETFXTOT0.14516iShares Core S&P Total U.S. Stock Market Index ETF(1)XTOT.U0.10567iShares Diversified Monthly Income ETFXTR0.04000iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)XUH0.15162iShares Core S&P 500 Index ETFXUS0.48767iShares Core S&P 500 Index ETF(1)XUS.U0.35926iShares S&P 500 3% Capped Index ETFXUSC0.25194iShares S&P 500 3% Capped Index ETF(1)XUSC.U0.18305iShares S&P U.S. Financials Index ETFXUSF0.09831iShares ESG Advanced MSCI USA Index ETFXUSR0.15198iShares S&P/TSX Capped Utilities Index ETFXUT0.10674iShares Core S&P U.S. Total Market Index ETFXUU0.35203iShares Core S&P U.S. Total Market Index ETF(1)XUU.U0.25950iShares MSCI USA Value Factor Index ETFXVLU0.17867iShares MSCI World Index ETFXWD0.84942
(1) Distribution per unit amounts are in U.S. dollars for IBIT.U, XAGG.U, XAW.U, XCBU.U, XDG.U, XDU.U, XEC.U, XEF.U, XFLI.U, XMC.U, XMU.U, XQQU.U, XSHU.U, XSTP.U, XTLT.U, XTOT.U, XUS.U, XUSC.U, and XUU.U.

Further information on the iShares ETFs can be found at http://www.blackrock.com/ca.

About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate. 

About iShares ETFs
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of approximately 1,700 exchange traded funds (ETFs) and approximately US$5.2 trillion in assets under management as of September 30, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

iShares® ETFs are managed by BlackRock Canada.

Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.  

Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”). Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). TSX is a registered trademark of TSX Inc. (“TSX”). All of the foregoing trademarks have been licensed to S&P Dow Jones Indices LLC and sublicensed for certain purposes to BlackRock Fund Advisors (“BFA”), which in turn has sub-licensed these marks to its affiliate, BlackRock Asset Management Canada Limited (“BlackRock Canada”), on behalf of the applicable fund(s). The index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by BFA and by extension, BlackRock Canada and the applicable fund(s). The funds are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, any of their respective affiliates (collectively known as “S&P Dow Jones Indices”) or TSX, or any of their respective affiliates. Neither S&P Dow Jones Indices nor TSX make any representations regarding the advisability of investing in such funds.

MSCI is a trademark of MSCI, Inc. (“MSCI”). The ETF is permitted to use the MSCI mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the Index. BlackRock Institutional Trust Company, N.A. has sublicensed the use of this trademark to BlackRock. The ETF is not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in the ETF.

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