Larry Fink, CEO of BlackRock, the world's largest asset management company, made a brief statement on cryptocurrencies.
The BlackRock CEO told CNBC’s Squawk on the Street:
“We have a responsibility to democratize investment.
Cryptocurrencies are international assets; they have a unique value compared to other currencies.
I can't speak directly about Bitcoin as we are currently filing for a spot Bitcoin ETF. "
Fink added that cryptocurrencies have distinct characteristics, international status and face high demand, and there are huge opportunities in the field.
BlackRock has been involved in the cryptocurrency space since 2021 but has not made any major investments so far. The company is processing Bitcoin transactions in 2021 and 2022, calling it a warm-up round.
The company made its biggest move in crypto last month, partnering with Coinbase to file a formal application with the SEC for a spot Bitcoin ETF.
While BlackRock’s filing encouraged other companies, Bitcoin rose nearly 25% following the filing.
