✨ BlackRock’s Larry Fink Compares Crypto Rise to the Mortgage Boom
posted 15 Oct 2024
BlackRock CEO Larry Fink made some intriguing remarks about the crypto industry during a Q3 earnings call, as shared on X by Bloomberg senior ETF analyst Eric Balchunas.
As the U.S. presidential elections in November 2024 approach, the crypto world is keeping a close watch on political rhetoric. However, Fink expressed doubt that any candidate would significantly alter the crypto landscape, predicting that the adoption of digital assets will continue to grow on a global scale, regardless of political shifts.
…I'm not sure if either President or other candidate would make a difference. I do believe the utilization of digital assets are going to become more and more of a reality worldwideFink stated.
During the call, Fink also noted BlackRock’s efforts to assist institutions in understanding digital asset classes, comparing the crypto market’s expansion to the early development of the mortgage market.
Fink described Bitcoin as an alternative to commodities like gold, while also emphasizing Ethereum’s potential for expanded blockchain use.
Given that BlackRock manages both spot Bitcoin and Ethereum ETFs, Fink's statements reflect the company’s vested interest. Notably, on October 14, U.S. spot BTC ETFs saw an impressive net inflow of over $555 million, according to SoSoValue data—the highest since June.
As one of the largest asset management firms in the world, BlackRock now manages assets worth over $11.5 trillion. You can read more about this achievement in our exclusive report.
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