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Larry Fink, the CEO of BlackRock, the world’s largest asset manager, made a statement about Bitcoin
BlackRock CEO Fink Praises Bitcoin
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Larry Fink, the CEO of BlackRock, the world’s largest asset manager, discussed Bitcoin and cryptocurrencies during a live broadcast on FOX Business.
Fink expressed hope that regulators would view the applications for spot Bitcoin ETFs as a way to democratize crypto. He continued by saying:
BlackRock CEO Larry Fink: “#Bitcoin is an international asset.”
— CoinOtag EN (@coinotagen) July 5, 2023
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During the program, Larry Fink emphasized that Bitcoin is an international asset. These remarks surprised the crypto community, as he had previously stated in 2017 that Bitcoin was a money laundering tool, expressing clear disinterest in Bitcoin.
However, in 2022, Fink reported that they were exploring the underlying technologies of digital currencies and stablecoins to find ways to assist their clients.
BlackRock’s ETF Application Revitalizes the Crypto Market
Although BlackRock’s CEO had made negative comments in the past, the company demonstrated its interest in the market by filing an application for a spot Bitcoin ETF on June 15.
Following BlackRock’s ETF application, many major investment management firms, including Valkyrie, Fidelity, and Invesco, joined the race and submitted their applications, awaiting a response from the SEC. Recently, the SEC found deficiencies in the spot Bitcoin ETF applications, including those from BlackRock, but companies quickly revised their applications and resubmitted them.
After the SEC returned the documents citing deficiencies, BlackRock refiled its application on July 3. Now, crypto investors are waiting to see how the SEC will respond to these applications. So far, there is no approved spot BTC ETF. Any approval by the SEC for a spot Bitcoin ETF would pave the way for the first-ever spot Bitcoin ETF in history.