- BlackRock CEO Larry Fink is very bullish on Bitcoin as the firm’s Spot Bitcoin ETF has become the fastest-growing ETF in history.
- The ETF has far outperformed expectations, seeing incredible inflow since debuting on January 11th. It is looking to overtake Grayscale’s ETF.
- Since launch, BlackRock’s ETF has seen its BTC holdings surpass OKX and Kraken exchanges combined. Fink believes there is still room for more growth.
BlackRock CEO Larry Fink is very bullish on Bitcoin as the firm’s Spot Bitcoin ETF has become the fastest-growing ETF in history.
Fink Is Bullish on Bitcoin
Speaking to Fox Business, the BlackRock CEO states that he is very bullish on the long-term viability of the leading cryptocurrency asset.
Furthermore, Fink states that the iShares ETF has far outperformed expectations, seeing incredible inflow since its debut on January 11. The ETF is looking to overtake Grayscale’s ETF as it has outperformed the Grayscale Bitcoin trust over the past two months.
With its performance of late, BlackRock’s Bitcoin ETF is climbing the stock charts and Fink believes that despite outperforming expectations, the ETF has room to grow even more.
The ETF’s Impressive Growth
“We’re creating a market that has more liquidity, more transparency,” Fink states in the interview. “I’m pleasantly surprised and would have never predicted before we filed it that it would see this.”
The CEO adds “IBit ETF is the fastest growing ETF in the history of ETFs.” Since its launch, BlackRock’s ETF has even seen its BTC Holdings surpass that of OKX and Kraken cryptic exchanges combined. This is outstanding to understand considering that OKX and Kraken were launched in 2017 and 2011 respectively.
IBIT currently holds over 24,000 Bitcoin and trades at just under $40. The total Bitcoin ETF market cap stands at over $55 billion.
Bullish for Bitcoin
The approval of Spot Bitcoin ETFs in January 2024 caused Bitcoin to skyrocket to all-time highs, reaching over $73,000 at one point. At press time BTC is trading at $68,600.
BlackRock has assured the importance of Bitcoin to the overall financial system. Moreover, the company’s CEO reinforcing this bullish sentiment around the BTC ETF will only benefit the performance of IBIT.
