Bitcoin is a legitimate financial instrument to invest in during times of heightened fear, BlackRock CEO Larry Fink told CNBC.
He stressed that the first cryptocurrency offers the opportunity to invest “in something that is outside the control of any country.”
On July 15, the company reported that its assets under management (AUM) in the second quarter were $10.6 trillion, up 13% from the same period last year. BlackRock attributed this in part to an influx of funds into ETF.
Larry Fink shares his insights on BlackRock’s Q2 earnings results https://t.co/k7QXvP8EnX pic.twitter.com/vofMoxhP79
— BlackRock_News (@BlackRock_News) July 15, 2024
BlackRock is the issuer of an exchange-traded fund based on the spot price of bitcoin. In late May, IBIT surpassed its competitor Grayscale in AUM with $19.68 billion.
According to SoSoValuenet inflow into IBIT from BlackRock after the product approval reached $18.26 billion. The instrument’s AUM was $18.32 billion.
According to BuyBitcoinWorldwideIBIT accounts for 1.5% of the Bitcoin supply.
Fink previously said he was pleasantly surprised by the interest of retail investors in the company’s Bitcoin ETF.
Stay up to date! Subscribe to World Stock Market on Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
