BlackRock CEO Larry Fink recently shared his perspective on the increasing interest in cryptocurrencies among global investors. This was in an interview with CNBC’s Squawk on the Street. Fink further emphasized the potential of digital assets to diversify investment portfolios and transcend national currencies.
Growing Interest in Crypto Among Global Investors
Fink highlighted the rising curiosity about crypto among BlackRock’s clients. He stated that more and more global investors are seeking information about these assets. As the world’s largest asset manager, with over $8 trillion in assets across various investment products, BlackRock’s insights reflect a significant trend in the investment community.
According to Blackrock CEO, cryptocurrencies offer a unique value proposition compared to other asset classes, making them an attractive option for portfolio diversification. He emphasized that the international nature of crypto assets positions them to transcend any single currency. This, as a result, provides additional appeal to investors seeking a global investment approach.
BlackRock’s Regulatory Focus
While Fink expressed enthusiasm for cryptocurrencies, he refrained from discussing BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF) in the United States. The application is currently awaiting approval from the Securities and Exchange Commission (SEC). Fink emphasized the company’s commitment to ensuring safety and security in any new market that bears BlackRock’s name.
Notably, BlackRock’s filing for a Bitcoin ETF has generated optimism for its potential approval, given the company’s track record of successfully launching ETFs. With 550 ETF applications filed and only one rejection, BlackRock’s experience positions them favorably for potential approval.
Other asset managers have also filed for similar ETF products in the United States. They include Fidelity, Bitwise, 21Shares, WisdomTree, and Investco,
Additionally, as American money managers await the SEC’s decision, Jacobi Asset Management, a London-based firm, is preparing to debut Europe’s first spot Bitcoin ETF later this year. Originally scheduled for a 2022 launch but postponed due to market conditions, the product is responding to a gradual shift in demand since last year.
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