BlackRock CEO Larry Fink has expressed his beliefs that cryptocurrencies have the capacity to go beyond any international currency. In an interview with CNBC’s Squawk on the Street, Fink emphasized the global demand for crypto as a significant indication of its potential. While Fink did not specifically mention Bitcoin, he mentioned that he is prohibited from discussing it due to BlackRock’s spot ETF filing. He drew a parallel between the rise of gold ETFs and how they transformed the gold investing market, suggesting that crypto could have a similar impact.

Fink’s Perspective on ETFs and Crypto’s International Appeal

BlackRock, the $9 trillion asset manager, recently filed for a spot Bitcoin ETF and is optimistic about obtaining SEC approval. Fink, however, refrained from discussing Bitcoin directly due to the regulatory filing. Nevertheless, he spoke about the broader potential of crypto and the role of ETFs in democratizing investing. Fink believes the ETF industry will grow into a multitrillion-dollar market, similar to the success of gold ETFs over the past two decades. He sees an ETF as a means to democratize the crypto investment space and views crypto as an “international asset” that can transcend any specific currency.

Summary

BlackRock CEO Larry Fink stated in an interview with CNBC that cryptocurrencies have the potential to transcend any global currency. While he did not mention Bitcoin specifically, Fink highlighted the global demand for crypto as a strong indicator of its potential. He drew comparisons to the transformative impact of gold ETFs and believes that crypto can have a similar effect on the market. Fink’s perspective signals continued optimism for the future of crypto and the potential growth of the ETF industry.

FAQs

What did Larry Fink, CEO of BlackRock, say about cryptocurrencies?

Larry Fink believes that cryptocurrencies have the potential to transcend any global currency and become an international asset.

Did Larry Fink mention Bitcoin in his remarks?

No, Larry Fink refrained from discussing Bitcoin specifically due to BlackRock’s spot ETF filing, which prohibits him from talking about it.

What did Larry Fink say about the role of ETFs in investing?

Larry Fink believes that ETFs have the power to democratize investing and that the industry has the potential to grow into a multitrillion-dollar market.

How does Larry Fink compare the impact of gold ETFs to crypto?

Larry Fink draws parallels between the transformative impact of gold ETFs on the gold investing market and the potential for crypto to have a similar effect.