Notably, BlackRock already has some skin in the game via its ownership stake in bitcoin-exposed MicroStrategy - the software enterprise company helmed by BTC proponent Michael Saylor. Later in May, the CEO indicated that BlackRock was studying what crypto means, its infrastructure, the regulatory climate around it, and whether it proffers any benefits despite the volatility concerns before making any solid commitment to the asset. In January, BlackRock allocated some of its funds to CME bitcoin futures which expired on March 26. Late December, Fink declared that while crypto as a burgeoning asset is still quite small and widely untested compared to others, it has the potential to evolve into a global market asset. He added that though he was thrilled about investors showing interest in speculative assets, digital currencies are completely unrelated to BlackRock’s core mission. We see very little in terms of investor demand on those types of things.” That is just not part of the focus on retirement and long-term investors. “In my last two weeks of business travel, not one question has been asked about that. In particular, he notes that there is low interest for bitcoin among long-term investors, including pension funds, retirement funds, and IRAs. Speaking on CNBC’s Squawk Box, Fink revealed that he had previously been asked by investors about bitcoin and crypto in general but not in the past two weeks, suggesting a considerable drop in demand for cryptocurrencies. Institutional Demand For Crypto Is Lackluster: Larry Finkįink, the billionaire boss of the world’s largest asset manager holding close to $10 trillion in assets under management, says he is not witnessing much demand for crypto. BlackRock CEO Larry Fink said on Wednesday that long-term institutional investors are demonstrating a weak appetite for cryptocurrencies.
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