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.”.

AccessTimeIconOct 17, 2023 at 4:17 p.m. UTC
Updated Oct 18, 2023 at 3:38 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

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.

Edited by Stephen Alpher.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.