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BlackRock CEO Larry Fink Seeing Client Demand for Crypto 'Around The World'
Rumors about spot bitcoin ETF approvals aside, Fink called the recent rally a “flight to quality.”.
Updated Oct 18, 2023, 3:38 p.m. Published Oct 17, 2023, 4:17 p.m.
Clients across the globe are talking about “the need for crypto,” said Larry Fink, CEO of asset management giant BlackRock (BLK).
Appearing on Fox Business on Monday hours after a false rumor about SEC approval for BlackRock’s spot bitcoin ETF sent prices sharply higher, Fink said he couldn’t speak about the application process.
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Fink, however, did opine on the recent rally. “It’s an example of the pent-up interest in crypto,” he said. “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,” he continued.
BlackRock, amongst other large financial institutions, is currently awaiting a decision from the SEC on whether it can issue a bitcoin spot ETF.
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