Global Client Appetite for Crypto Evident to BlackRock CEO Larry Fink
Setting aside rumors regarding the approval of a spot Bitcoin ETF, Fink characterized the recent surge as a "flight to quality."
Larry Fink, the CEO of BlackRock, a colossal asset management entity, conveyed that clients from various corners of the globe are engaging in conversations centered around the importance of cryptocurrency.
During an appearance on Fox Business, just hours subsequent to a misleading rumor about SEC endorsement for BlackRock's spot Bitcoin ETF causing a sharp surge in prices, Fink pointed out that he was unable to provide insights on the application process.
Fink, nonetheless, did share his perspective on the recent surge. He remarked:
"It's a manifestation of the accumulated interest in crypto. We are receiving feedback from clients worldwide regarding the imperative nature of cryptocurrency."
"In my opinion, today's surge can be attributed to a shift towards assets with proven reliability, especially in light of ongoing events like the Israeli conflict and global terrorism," he added.
Presently, BlackRock, alongside other major financial institutions, is eagerly awaiting a verdict from the SEC regarding its eligibility to issue a spot Bitcoin ETF.
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