BlackRock CEO Sees Bitcoin as Digital Gold

BlackRock CEO Sees Bitcoin as Digital Gold

By Miles

06 Jul 2023 (about 1 year ago)

2 min read

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BlackRock CEO seeks regulators' support for Bitcoin ETF, aiming to make crypto investing easier.

BlackRock CEO Larry Fink shared his intention to cooperate with regulators about the company's plan for a bitcoin-based ETF. He also stated that bitcoin is like a digital form of gold. Fink aims to address any worries regulators might have and believes in working closely with them.

Fink expressed his wish to make investing in crypto easier and cheaper for people. Currently, buying and selling crypto is expensive and eats into profits. He hopes regulators will see their ETF as a way to make crypto investing more accessible for everyone.

Recently, Nasdaq refiled a form for BlackRock's Bitcoin Trust. This happened after the U.S. Securities and Exchange Commission (SEC) mentioned that recent bitcoin ETF filings were not clear enough. The new filing indicates plans to share surveillance information with Coinbase.

On the topic of Bitcoin, Fink described it as digital gold, but he doesn't own any. He sees Bitcoin as a global asset that could be an alternative investment. BlackRock first filed for a Bitcoin ETF in June, followed by other companies like Fidelity.

However, the SEC has not yet approved a bitcoin ETF. Past applications faced difficulties because of concerns about possible fraud and market manipulation. The SEC has been cautious when considering such funds due to these risks

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