BlackRock CEO; Our Clients See the Need For Crypto
BlackRock's CEO sees a growing demand for crypto among clients, while experts predict the US SEC might approve Bitcoin products soon.
Larry Fink, the CEO of BlackRock, a huge money management company, said many of their clients see “the need for crypto.” He spoke about this on Fox Business.
After rumors that the US Securities and Exchange Commission (SEC) might say "yes" to BlackRock's Bitcoin product, Bitcoin's price went up from $27,900 to $30,000. Fink mentioned this rise, saying, “We hear from our clients everywhere that they want crypto. Today’s Bitcoin rise is also because of problems in the world, like the situation in Israel.”
In the past, Fink praised Bitcoin. He once said it could change how money works. But he also had worries, thinking it might be used for bad things.
BlackRock asked the SEC for permission to have a Bitcoin product. The SEC is still thinking about this. Other companies like Valkyrie and VanEck are also waiting for the SEC’s decision.
Experts James Seyffart and Eric Balchunas think there's a 95% chance that the SEC will approve a Bitcoin product this year. JPMorgan, a big bank, thinks the SEC will say "yes" after a court supported another company called Grayscale.
Mike Novogratz, the head of Galaxy Digital, thinks the SEC will say "yes" in the next few months. His company partnered with another company called Invesco and asked the SEC for permission to have a Bitcoin ETF in June.
