• BlackRock CEO Larry Fink, who previously bashed bitcoin, now has a different view of the crypto asset and is looking to make it more accessible for investors.
• The company recently filed for a spot in bitcoin ETF with the SEC with other major players such as Invesco and Fidelity also following suit.
• Fink referred to Bitcoin as an “international asset” while stating that he did not own any BTC.
BlackRock CEO’s View on Bitcoin Changed
BlackRock CEO Larry Fink, who previously bashed bitcoin , now has a different view of the crypto asset and is looking to make the largest crypto by market capitalization cheaper and more accessible for investors. Speaking in an interview with Fox Business, Larry Fink noted that through collaboration with regulators, its bitcoin ETF filing could get approved. He also said that the company aimed to make bitcoin and crypto “more democratized” thereby making the asset cheaper and easier for investors to trade.
Major Players Following Suit
The $9 trillion asset management company recently filed for a spot in bitcoin ETF with the SEC, with other major players such as Invesco and Fidelity following suit. The SEC, which has yet to approve such applications, noted that the latest filings lacked sufficient information causing BlackRock to submit a new filing.
Bitcoin as International Asset
Fink also said that cryptocurrency digitized gold and referred to bitcoin as an “international asset” while stating that he did not own any BTC. He mentioned how instead of investing in gold as a hedge against inflation people can invest in Bitcoin as an alternative since it is not based on any one currency.
ETFs Making Crypto More Accessible
Fink hopes regulators would look at these filings as a way to democratize crypto by making it cheaper and easier for investors to access it via Exchange-Traded Funds (ETFs). Other major players are also expected to join this bandwagon soon enough if US Securities and Exchange Commission (SEC) approves Blackrock’s application for its first ever Bitcoin ETF filing.
Conclusion
BlackRock’s CEO Larry Fink’s comments about making Bitcoin more accessible through ETFs indicates his changed stance towards cryptocurrencies from what it was before when he had bashed them previously. With other big names joining Blackrock’s pursuit of bringing cryptocurrencies closer through exchanges or funds; we expect this space will only see more action from mainstream financial institutions in coming days ahead