1. Home
  2. Bitcoin
  3. BlackRock CEO Larry Fink Says Interest in Crypto Is Global, Predicts Spot Bitcoin ETF Will Lower Investing Costs
BlackRock CEO Larry Fink Says Interest in Crypto Is Global, Predicts Spot Bitcoin ETF Will Lower Investing Costs

BlackRock CEO Larry Fink Says Interest in Crypto Is Global, Predicts Spot Bitcoin ETF Will Lower Investing Costs

0

Source: Daily Hodle

BlackRock CEO Larry Fink says that there is increasing global interest in cryptocurrency and a spot Bitcoin (BTC) exchange-traded fund (ETF) could lower investing costs.

In a new interview with CNBC’s “Squawk on the Street,” Fink says that much like gold ETFs lowered costs to invest in the precious metal, a Bitcoin ETF would likely do the same for the king crypto.

He says a Bitcoin ETF would also open up the king crypto to a broader pool of investors as worldwide demand for crypto investing is on the rise.

According to Fink, one reason for the growing interest is the belief that crypto can act as a hedge against depreciating fiat currencies like the US dollar.

“We have a responsibility to democratize investing. And we’ve done a great job. And the role of ETFs in the world is transforming investing. And I think we’re only at the beginning of that…

And now, with crypto, the idea of democratizing that role. The cost right now to transact is quite expensive. We’re talking points, not decimal points. And so that’s a big point too. Over the last five years, more and more global investors are asking us about the role of crypto, and as I’ve said, I do believe a lot of crypto is going to be… it’s an international asset. It has a differentiating value versus other asset classes, but more importantly, because it’s so international, it’s going to transcend any one currency and currency valuation.

If you just look at the value of our dollar, how it depreciated the last two months, and how much it depreciated over the last five years, an international crypto product can really transcend that. And that’s why we believe there are great opportunities and that’s why we’re seeing more and more interest. And that interest is broad-based, worldwide.”

BlackRock applied for a spot Bitcoin ETF on June 15 with the U.S. Securities and Exchange Commission (SEC), which has yet to approve one.

Says Fink,

“We are working with our regulators, because we want, as in any new market, if BlackRock’s name is going to be on it, we’re going to make sure that it’s safe and sound and protected.”

Bitcoin is trading for $31,236 at time of writing, up 1.2% in the past 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
Featured Image: Shutterstock/Konstantin Faraktinov

The post BlackRock CEO Larry Fink Says Interest in Crypto Is Global, Predicts Spot Bitcoin ETF Will Lower Investing Costs appeared first on The Daily Hodl.

Go to Source
Author: Daily Hodl Staff