02 Nov BlackRock Won’t Launch Bitcoin ETF Until Crypto Is ‘Legitimate,’ Says CEO Larry Fink
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BlackRock — the world’s largest asset manager and ETF provider — has slowly been warming to crypto, but will not launch a bitcoin exchange-traded fund (ETF) until the industry becomes “legitimate,” said CEO Larry Fink.
“I wouldn’t say never — when it’s legitimate, yes,” Fink said at the New York Times Dealbook conference, as reported by CNBC. “It will ultimately have to be backed by a government. I don’t sense that any government will allow that unless they have a sense of where that money’s going.”
Concerned About Scams And Fraud
Fink expressed concern about the potential for scams, money laundering, and tax evasion because the crypto industry is decentralized, anonymous, and largely unregulated.
Until that changes, Fink said, BlackRock — which has $6.4 trillion in assets under management — will not roll out a cryptocurrency ETF.
“I do see one day where we could have electronic trading for a currency…
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