BlackRock CEO: Bitcoin ETF Could Democratize Crypto

  • BlackRock CEO Larry Fink believes that Bitcoin ETFs could make crypto more democratized.
  • Fink suggested that U.S. regulators should consider how an ETF directly linked to BTC could democratize finance.
  • BlackRock recently filed for a Bitcoin ETF with Coinbase as a surveillance partner.

Bitcoin ETF Could Democratize Crypto: Blackrock CEO

BlackRock CEO Larry Fink believes that a Bitcoin Exchange Traded Fund (ETF) could make cryptocurrency more accessible and democratized. Fink has urged U.S. regulators to consider the potential of such an ETF, which would be directly linked to the value of Bitcoin (BTC). BlackRock recently filed for a Bitcoin ETF, with cryptocurrency exchange Coinbase acting as its surveillance partner.

Fink’s Views on Cryptocurrency

Fink views cryptocurrency as being similar to gold, in that it is not tied to any single currency and can act as an alternative asset for investors seeking protection against inflation or currency depreciation. However, Gabor Gurbacs reminded the Twitter community of Finks earlier views regarding Bitcoin, where he had referred to it as an „index of money laundering“ back in 2017. Michael Saylor approvingly quoted Link’s remarks on Twitter following his comments about BTC being an international asset.

VanEck Director Reminds Community of Finks Earlier Views

When FTX collapsed in November 2022, Fink reasoned that this was due to it creating its own centralized token – which was at odds with what crypto stands for – decentralization of assets and funds. Gurbacs was quick to remind the Twitter community of Finks earlier views regarding Bitcoin back in 2017 when he had referred to it as an “index of money laundering” while speaking on Fox Business in July 2023.

Michael Saylor Approves Of Blackrock CEOs Statements On Twitter

Microstrategy founder Michael Saylor tweeted his approval following Larry Finks statements on Fox Business by quoting him saying “Bitcoin is an International Asset” along with a picture of him making those statements during the interview broadcasted live on 5th July 2023

Will The SEC Approve Blackrocks Application For A Bitcoin ETF?

The SEC will decide whether or not they will approve Blackrocks application for a spot Bitcoin exchange-traded fund (ETF) after reviewing the proposal put forward by the asset management company and their chosen surveillance partner Coinbase .