Larry Fink, the CEO of investment giant BlackRock, is feeling “very bullish” about the long-term prospects of Bitcoin. This is because BlackRock’s spot Bitcoin ETF, IBIT, experienced some massive growth, becoming the fastest-growing ETF in history.
“I’m very bullish on the long-term viability of Bitcoin,” Fink stated during an interview on Fox Business. “That surprised me how much that’s gone up. We are creating now a market that has more liquidity, more transparency, and I’m pleasantly surprised and I would have never predicted it before we filed it, that we were going to see this type of retail demand.”
His endorsement of Bitcoin’s longevity carries significant weight, given BlackRock’s status as the world’s largest asset manager, overseeing a staggering $8.5 trillion in assets. His positive outlook aligns with the modern day adoption and recognition of Bitcoin as a legitimate investment opportunity.
“IBIT is the fastest-growing ETF in the history of ETFs,” Fink continued, highlighting the overwhelming success of BlackRock’s Bitcoin ETF since its launch.
In his statement, Larry Fink also acknowledged the volatility of the cryptocurrency market, emphasizing the importance of responsible investing. “We’re going to see a lot of volatility in this asset class,” he cautioned, urging investors to exercise due diligence and invest wisely.
IBIT’s rise has been nothing short of remarkable. The fund currently holds $17.1 billion worth of Bitcoin, a staggering figure that just shows the growing institutional acceptance of cryptocurrencies.
