BlackRock Is 'Studying' Crypto, Which Could Someday Play Role Akin to Gold, CEO Says: Report

The financial services giant is monitoring regulation and development of infrastructure, among other issues.

AccessTimeIconMay 26, 2021 at 3:36 p.m. UTC
Updated Sep 14, 2021 at 1:02 p.m. UTC

BlackRock CEO Larry Fink said on Wednesday the company is studying the potential of cryptocurrencies to serve as long-term investments though it's too early to tell if they're “just a speculative trading tool” due to their volatility, Reuters reported.

  • Cryptocurrencies could someday play a role in long-term investing as an asset class similar to gold, Fink said at the company's annual meeting in response to a shareholder question asking whether the company would invest in bitcoin.
  • “The firm has monitored the evolution of crypto assets. We are studying what it means, the infrastructure, the regulatory landscape,” Reuters quoted Fink as saying.
  • For now, though, crypto is too volatile to serve as an investment for BlackRock, which is a long-term investor, Fink said. The CEO noted broker dealers are by and large the ones making the big money from the volatility of cryptocurrencies and their wide bid-ask spreads, Reuters said.


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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

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 to register and buy your pass now.

Read more about