BlackRock CEO Larry Fink Says Interest in Crypto Is Global, Predicts Spot Bitcoin ETF Will Lower Investing Costs
BlackRock CEO Larry Fink believes that there is increasing global interest in cryptocurrency, and a Bitcoin exchange-traded fund (ETF) could lower investing costs. Fink compares the potential impact of a Bitcoin ETF to gold ETFs, which reduced costs for investing in the precious metal. He states that a Bitcoin ETF would expand access to a wider range of investors, as the demand for crypto investing is growing worldwide.
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Fink attributes the growing interest in crypto to its perceived ability to serve as a hedge against depreciating fiat currencies like the US dollar. He emphasizes the importance of democratizing investing and views cryptocurrency as an international asset that transcends any single currency or valuation.
BlackRock has applied for a spot Bitcoin ETF, aiming to ensure safety and compliance in the market. While the approval from the U.S. Securities and Exchange Commission (SEC) is pending, Fink expresses optimism about the opportunities presented by cryptocurrency and the broad-based global interest it has garnered.
At the time of writing, Bitcoin is trading at $31,236, showing a 1.2% increase in the past 24 hours
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