Share this article
BlackRock Exec: No Point in Bitcoin ETF
A senior official at asset management giant BlackRock said this week that he doesn't see the case for a bitcoin exchange-traded fund (ETF).
By Nikhilesh De
Updated Sep 13, 2021, 7:00 a.m. Published Oct 5, 2017, 10:00 p.m.
Make us preferred on Google
An executive for the world's largest asset manager said this week that he doesn't see the case for a bitcoin exchange-traded fund (ETF).
Speaking with Bloomberg on October 3, Mark Wiedman, who serves as Global Head of iShares and Index Investments for BlackRock, was asked about his views on the prospects of a cryptocurrency-tied ETF. A number of firms have attempted to launch such a product, but to date the SEC has been largely dismissive of the concept, issuing notable rejections in the public and, in other cases, prompting some bitcoin ETF backers to withdraw their efforts.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Wiedman said in the interview that he doesn't see it happening, citing other ETF-related products that the firm would encourage clients to hold "in perpetuity." In the case of bitcoin, Wiedman said that he "would not encourage a client to hold bitcoin in perpetuity."
On the question of an ETF specifically, Wiedman went on to say:
"I don’t quite get the point of a bitcoin ETF in any case, because we’re talking about...trading products that are difficult to access. If bitcoin is ever successful – and again not my thing but – I wouldn’t recommend it. But if it were [successful], why would you need an ETF to access it?"
Wiedman isn't the only BlackRock executive to comment on cryptocurrencies this week.
That same day, BlackRock CEO Larry Fink was quoted as saying that he is a "big believer" in the potential of cryptocurrencies. That said, he took aim at the speculation in the market and suggested that cryptocurrencies are being buoyed by money laundering.
Image via YouTube/Bloomberg
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin and ether volatility trading gets easier with Polymarket's new contracts
Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices.
What to know:
- Polymarket has launched new prediction markets tied to Volmex's bitcoin and ether 30-day implied volatility indices, allowing users to bet on how high volatility will get in 2026.
- The contracts pay out if volatility indices reach or exceed a preset level by Dec. 31, 2026, letting traders wager on the intensity of price swings rather than market direction.
- Early trading implies roughly a one-in-three chance that bitcoin and ether volatility will nearly double from current levels.
Top Stories
