BlackRock CEO Larry Fink expressed his bullish outlook on cryptocurrencies on Friday, citing the increasing demand he has seen from gold investors. Speaking on CNBC after the company’s second-quarter earnings report, Fink said, More and more gold investors have been asking about the role of crypto over the last five years. He highlighted the role ETFs have had in making gold more accessible, and believes the same could be done for crypto.
If you look at the value of our dollar, how it depreciated in the last two months and how much it appreciated over the last five years… an international crypto product can really transcend that, Fink said. That’s why we believe there’s great opportunities and that’s why we’re seeing more and more interest. And the interest is broad-based [and] worldwide.
BlackRock recently filed an application to list a spot bitcoin ETF with a surveillance-sharing agreement, which could be the deciding factor in the SEC finally approving such a product. Fink added, As with any new markets, if BlackRock’s name’s going to be on it, we’re going to make sure it’s safe and sound and protected.