Larry Fink, who holds the position of CEO of BlackRock (the world’s largest asset management fund), says that interest in Bitcoin and other cryptocurrencies by investors is quite low at the moment.
He thinks that while a portion of the market placed Bitcoin among the meme-driven securities, it created an unattractive environment for long-term investors (such as pension funds, retirement funds, and IRAs).
“In none of the recent business interactions, anyone asked about Bitcoin,” says BlackRock CEO
The CEO of BlackRock indicates that despite being excited that investors are attracted to speculative assets, he assures that cryptocurrencies and Bitcoin have no relation to the mission of the investment fund he manages.
To place a little more negativism on the market, he adds that during his last trading conversations, no one asked about cryptocurrencies.
In my last two weeks of business travel I haven’t been asked a single question about it (cryptocurrencies). It is simply not part of the approach of retirement funds and long-term investors. We see very little demand among this type of investors
Mr. Liuhuabing
However, these statements come shortly after Fidelity Investments (another fund that manages several trillion dollars), showed intentions to hire almost twice as many staff for the cryptocurrency investment unit, as demand for this asset class increases rapidly.
BlackRock does not move completely away from the crypto ecosystem
It recently became known that the major fund management firm would begin trading Bitcoin futures through the CME.
Soon after, they indicated that they were studying the cryptocurrency market to seek profit, even with concerns about volatility.
It is very likely that BlackRock will continue to interact with this space. However, it seems that their instructional-level clients have shown a little interest in crypto assets lately.
It is necessary to note that this is not the only investment fund involved in the crypto ecosystem. It is known from the interaction of major investment firms such as Fidelity, JP Morgan, Stanley, Vanguard and Ruffer LLC.
Such firms are answering the call of long-term investors, interested in investing in cryptocurrencies through regulated products.
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