Clients Are Talking about ‘Need for Crypto’, Says Blackrock CEO Larry Fink
The post Clients Are Talking about ‘Need for Crypto’, Says Blackrock CEO Larry Fink appeared on BitcoinEthereumNews.com. Larry Fink’s comment reveals BlackRock’s strong interest in crypto following the company’s application for a spot Bitcoin ETF. The Chief Executive Officer of asset management giant BlackRock Inc (NYSE: BLK) recently said there is “the need for crypto” among the company’s many clients. Fink revealed this in a Monday interview on Fox Business. BlackRock CEO Believes Clients Need Crypto Fink spoke only a few hours after a rumor that the United States Securities and Exchange Commission (SEC) approved BlackRock Inc’s iShares spot Bitcoin Exchange Traded Fund (ETF). In response to the news, the price of Bitcoin climbed from about $27,900 to $30,000. Referencing the news and Bitcoin rally, Fink said: “Its an example of the pent-up interest in crypto. We are hearing from clients around the world about the need for crypto … I think the rally today is about a flight to quality, with all the issues around the Israeli war now, global terrorism.” Fink has previously spoken in support of Bitcoin. In a July Fox Business interview, Fink said Bitcoin could revolutionize the financial system. This was an interesting turnaround from the CEO’s previous aversion to cryptocurrencies. Fink had expressed opposition to crypto, stating that it can easily be used for illegal activities. Currently, the SEC is reviewing several applications for spot Bitcoin ETFs, including one from Blackrock. In June, BlackRock submitted an application to the SEC, naming crypto exchange Coinbase (NASDAQ: COIN) as the custodian. The SEC has yet to approve any spot Bitcoin ETF application. Last month, the Commission delayed a decision on several proposals, including those from BlackRock, Valkyrie, VanEck, Bitwise, and WisdomTree. SEC May Approve Spot Bitcoin ETF Soon Bloomberg analysts James Seyffart and Eric Balchunas believe that there is a 95% chance of the SEC approving a spot Bitcoin ETF this year. The duo had previously put the likelihood at 65%, considering Grayscale’s…
The post Clients Are Talking about ‘Need for Crypto’, Says Blackrock CEO Larry Fink appeared on BitcoinEthereumNews.com.
Larry Fink’s comment reveals BlackRock’s strong interest in crypto following the company’s application for a spot Bitcoin ETF. The Chief Executive Officer of asset management giant BlackRock Inc (NYSE: BLK) recently said there is “the need for crypto” among the company’s many clients. Fink revealed this in a Monday interview on Fox Business. BlackRock CEO Believes Clients Need Crypto Fink spoke only a few hours after a rumor that the United States Securities and Exchange Commission (SEC) approved BlackRock Inc’s iShares spot Bitcoin Exchange Traded Fund (ETF). In response to the news, the price of Bitcoin climbed from about $27,900 to $30,000. Referencing the news and Bitcoin rally, Fink said: “Its an example of the pent-up interest in crypto. We are hearing from clients around the world about the need for crypto … I think the rally today is about a flight to quality, with all the issues around the Israeli war now, global terrorism.” Fink has previously spoken in support of Bitcoin. In a July Fox Business interview, Fink said Bitcoin could revolutionize the financial system. This was an interesting turnaround from the CEO’s previous aversion to cryptocurrencies. Fink had expressed opposition to crypto, stating that it can easily be used for illegal activities. Currently, the SEC is reviewing several applications for spot Bitcoin ETFs, including one from Blackrock. In June, BlackRock submitted an application to the SEC, naming crypto exchange Coinbase (NASDAQ: COIN) as the custodian. The SEC has yet to approve any spot Bitcoin ETF application. Last month, the Commission delayed a decision on several proposals, including those from BlackRock, Valkyrie, VanEck, Bitwise, and WisdomTree. SEC May Approve Spot Bitcoin ETF Soon Bloomberg analysts James Seyffart and Eric Balchunas believe that there is a 95% chance of the SEC approving a spot Bitcoin ETF this year. The duo had previously put the likelihood at 65%, considering Grayscale’s…
What's Your Reaction?
