At the New York Times DealBook Summit, Larry Fink, BlackRock Chief Executive, conceded that his early labeling of cryptocurrency as a crime and money-laundering tool was misguided. He cited ongoing engagements with thousands of clients and policymakers as the driver of a measured shift. With this evolution, BlackRock signals deeper engagement in Bitcoin by launching what market participants call the largest Bitcoin spot ETF, reflecting demand for regulated, institutional exposure. The admission underscores a broader reappraisal of crypto risk and opportunity among asset managers.
Larry Fink notes that strong views can evolve, pointing to ongoing client dialogue and rigorous self-review. The pivot aligns with a trend toward institutional adoption of Bitcoin and digital assets and could influence product design, risk controls, and capital allocation for large pools of capital. Observers will watch for changes in disclosure practices and regulatory engagement as demand for transparent, performance-driven crypto data grows.
Source: https://en.coinotag.com/breakingnews/larry-fink-reverses-bitcoin-stance-as-blackrock-launches-the-largest-bitcoin-spot-etf
