BlackRock CEO Declares Bitcoin a Protective Asset Class

Learn about BlackRock CEO Larry Fink's views on Bitcoin as a valuable asset class and his insights on the expanding role of ETFs in transforming financial markets, including the exciting potential of a physical Ethereum ETF in this comprehensive article.

Values Bitcoin as a Store of Value

On January 12, 2024, Larry Fink, the CEO of BlackRock, the world's largest asset management company, which has recently garnered attention for receiving approval for a physical Bitcoin ETF, appeared on CNBC's "Squawk Box." During the show, he discussed Bitcoin and the Bitcoin ETF.

Initially skeptical about Bitcoin, Larry Fink now evaluates Bitcoin as an asset class that functions as a store of value. He expressed, "Bitcoin is an asset class that can protect you."

I believes that the price of Bitcoin increases when the world is fearful and people are anxious about geopolitical risks.

This is no different from what gold has symbolized for thousands of years. Bitcoin is an asset class that protects you.

Furthermore, Fink explained how Bitcoin differs from Gold, particularly in its limited maximum supply, saying, "Unlike gold, where new gold can be mined, the supply of Bitcoin is nearly at its limit. What we are trying to do is provide a means to preserve wealth."

Expanding ETF Products: Physical Ethereum ETF and Beyond

In the same interview, Fink also touched upon the potential expansion of ETF products, stating, "We believe each ETF represents a technology that will transform every asset class. This is just the beginning, and we think it's necessary to incorporate ETFs throughout."

We believe each ETF is a technology that will transform every asset class, and everything will be done through ETFs. Therefore, this is just the beginning, and it's necessary to incorporate ETFs across the board.

Fink openly views ETFs as the first step in a technological revolution in the financial markets, with the second step being the tokenization of all financial assets.

I believe this is the path we are on, so I am focusing on Bitcoin and ETFs. These are the technological changes that will help us move forward.

Additionally, Fink mentioned during the interview, "I see value in an Ethereum ETF," and "These are stepping stones towards tokenization, which is where we believe we should be heading."

Last November, BlackRock filed documents with the U.S. Securities and Exchange Commission (SEC) for a physical Ethereum ETF called "iShares Ethereum Trust."

>> For the latest articles on ETFs, click here.