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2h ago

BlackRock’s Fink Calls Bitcoin ‘Digital Gold,’ Urges Only Small Allocations

His CBS remarks formalize a pivot toward small, diversification-focused use of Bitcoin, with IBIT approaching the $100 billion mark.

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(Source: CoinGlass)
Larry Fink (Will Ess for Pixelmind.ai/CoinDesk)
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Overview

  • In a CBS/60 Minutes interview, Larry Fink said Bitcoin serves the same purpose as gold and acknowledged his 2017 description of it as an index of money laundering.
  • Fink called Bitcoin “not a bad asset” for diversification but cautioned that it should not be a large component of a portfolio due to volatility.
  • BlackRock’s iShares Bitcoin Trust leads U.S. spot-Bitcoin ETF flows, with about $65.26 billion in cumulative inflows and roughly $93.9 billion in assets, having neared $99.5 billion before a recent pullback.
  • BlackRock has reported that roughly half of demand for its Bitcoin ETF has come from retail investors, many of whom are new to iShares products.
  • The shift in tone tracks broader institutional adoption of regulated crypto products, even as market swings and policy risks keep allocations constrained.