BlackRock CEO Larry Fink “Very Bullish” on Long-Term Prospect of Bitcoin
In an interview with Fox Business on March 27, Larry Fink, the CEO of BlackRock, stated that the iShares Bitcoin Trust (IBIT) has become the fastest-growing ETF in history, surpassing all others in terms of asset growth. Fink acknowledged that the performance of IBIT has even exceeded his expectations, particularly during the first 11 weeks of trading. According to data from Farside Investors, IBIT attracted a remarkable $13.5 billion in flows during this period.
The BlackRock CEO emphasized that the introduction of IBIT has contributed to the creation of a market with increased liquidity and transparency. He expressed his pleasant surprise at the significant retail demand that IBIT has generated, stating that he could not have predicted such a strong response when the ETF was filed.
When asked if IBIT's performance exceeded expectations, Fink responded positively, indicating that he did not anticipate such remarkable results. He further reinforced his bullish stance on the long-term viability of Bitcoin, expressing confidence in its future prospects.
IBIT currently holds $17.1 billion worth of Bitcoin. It achieved the $10 billion milestone in just two months, a feat that took the first gold ETF two years to accomplish. Among the approved ETFs, IBIT ranks second in terms of Bitcoin holdings, trailing only the Grayscale Bitcoin Trust, which holds $23.6 billion in BTC. However, Grayscale's Bitcoin holdings have been decreasing since its conversion to a spot Bitcoin ETF.
