BlackRock CEO is bullish on Bitcoin

BlackRock CEO Larry Fink expressed “pleasant surprise” at the interest among retail investors in the company's spot Bitcoin ETF in an interview with Fox Business.

🚨NEW: @BlackRock CEO Larry Fink on $BTC and his $IBIT ETF:

“Look, I'm very bullish on the long term viability of Bitcoin. We’re creating now a market that has more liquidity more transparency, and I’m pleasantly surprised, and I would never have predicted that before.”

— Eleanor Terrett (@EleanorTerrett) March 27, 2024

The executive said he is “very optimistic about the long-term viability of digital gold.”

According to SoSoValuenet inflows into IBIT from BlackRock after product approval reached $13.86 billion. AUM The instrument increased to $17.21 billion. In this regard, it is second only to GBTC from Grayscale ($23 billion). Given the ongoing outflows from its competitor, the performance of both exchange-traded funds could be similar in the future.

According to BuyBitcoinWorldwideIBIT accounts for 1.17% of Bitcoin supply.

Fink also answered questions regarding ETH-ETF through the lens of Ethereum's potential recognition as a security.

🚨NEW: Larry Fink on $ETH spot ETF: @CGasparino: There's a lot of noise about the SEC declaring ether a security which would take it out of the bitcoin category as a commodity. How does that translate into an ETF?

Fink: “I don't think — look and I really can't talk about this… https://t.co/si9ZiM6z30 pic.twitter.com/SVFcGvwRRg

— Eleanor Terrett (@EleanorTerrett) March 27, 2024

BlackRock CEO responded affirmatively to a question about the possibility of launching an ETH-ETF attributable to SEC second in terms of cryptocurrency capitalization to investment contracts.