Crypto Demand Rising Among Gold Investors: Says BlackRock CEO

BlackRock CEO Larry Fink is optimistic about the growing interest in cryptocurrencies among gold investors.

Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On ChikaMoji.lol

In a CNBC interview after BlackRock’s second-quarter earnings report, Fink mentioned that “more and more” gold investors have been inquiring about cryptocurrencies over the last five years.



Fink highlighted the influence of exchange-traded funds (ETFs) in democratizing access to gold and suggested that they might have a comparable effect on the cryptocurrency market.

Fink highlighted the recent depreciation of the US dollar and its appreciation over the past five years, underscoring the potential for an international crypto product to act as a hedge against these fluctuations.

He mentioned the increasing global interest in cryptocurrencies, expressing belief in the existence of significant opportunities in this space.

Last month, BlackRock filed an application to list a spot Bitcoin (BTC) ETF with a surveillance-sharing agreement.

BlackRock’s application for a spot Bitcoin (BTC) ETF with a surveillance-sharing agreement could play a decisive role in the US Securities and Exchange Commission (SEC) finally approving such a product, after rejecting several applications previously.

Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On ChikaMoji.lol

Fink stated that BlackRock’s entry into the cryptocurrency market aligns with their goal of creating user-friendly and cost-effective investment products.

He emphasized the company’s responsibility to democratize investing, with ETFs already playing a transformative role in the investment world, and they believe this is just the beginning of that journey.

In 2017, Fink was skeptical about cryptocurrencies, linking their popularity to money laundering. Nevertheless, the growing client interest and the soaring value of cryptocurrencies have led BlackRock to consider the possibility of entering the market.

Bitcoin as a Portfolio Diversifier, Says BlackRock CEO

Fink highlighted the diversification advantages of cryptocurrencies in investor portfolios, stating that they offer a unique value compared to other asset classes.

He emphasized their international nature, which makes them independent of any single currency. Although he refrained from directly discussing the spot Bitcoin ETF due to SEC filing restrictions, he assured that BlackRock’s entry into any market would prioritize safety and protection.

On Friday, BlackRock announced its second-quarter results, revealing adjusted earnings per share of $9.28 on $4.46 billion in revenue, with assets under management surpassing $9 trillion.

Fink has previously expressed support for Bitcoin since BlackRock filed the spot ETF application.

Earlier this month, Fink praised Bitcoin, likening it to “digitizing gold” and highlighting its potential to revolutionize the financial industry.

Additionally, brokerage firm Bernstein believes there is a high likelihood that the SEC will approve a spot Bitcoin ETF in the near future.



In a recent research report, Bernstein mentioned that the SEC is facing growing pressure to approve a spot Bitcoin ETF, especially considering the commission’s prior approval of futures-based Bitcoin ETFs and leverage-based futures ETFs.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News and Threads App

Author

  • Salim

    "Salim is a news writer at CryptosHeadlines who creates excellent, well-optimized content to ensure user satisfaction. He is skilled in forecasting News About Cryptocurrency Market & blockchain Industry."

Leave a Reply

Your email address will not be published. Required fields are marked *