Larry Fink, the CEO of the world’s largest asset manager, Blackrock, says crypto is so international that it will transcend any one currency. Regarding Blackrock’s bitcoin exchange-traded fund (ETF) filing with the U.S. Securities and Exchange Commission (SEC), the executive stressed: “We are working with our regulators because, as in any new market, if Blackrock’s name is going to be on it, we’re going to make sure that it’s safe and sound and protected.”
Blackrock CEO Larry Fink Highlights Crypto’s ‘Differentiating Value’
Larry Fink, the CEO and chairman of Blackrock, the world’s largest asset manager, discussed cryptocurrency in an interview with CNBC on Friday. Blackrock filed to launch a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) on June 15. While the SEC has rejected all bitcoin ETF applications so far, many are hopeful that the securities regulator will approve Blackrock’s filing.
“Over the last five years, more and more global investors are asking us about the role of crypto,” the Blackrock CEO shared. “As I said, I do believe a lot of crypto is an international asset,” the executive continued, emphasizing:
It has a differentiating value versus other asset classes, but more importantly, because it’s so international it’s going to transcend any one currency and currency valuation.
“If you just look at the value of our dollar — how it depreciated the last two months and how much it appreciated over the last five years — an international crypto product can really transcend that,” Fink noted. “And that’s why we believe there’s great opportunities and that’s why we’re seeing more and more interest, and that interest is broad-based, worldwide.”
“We believe we have a responsibility to democratize investing. We’ve done a great job, and the role of ETFs in the world is transforming investing. And we’re only at the beginning of that,” Fink detailed.
Regarding Blackrock’s bitcoin ETF filing, Fink stressed:
We are working with our regulators because, as in any new market, if Blackrock’s name is going to be on it, we’re going to make sure that it’s safe and sound and protected.