Overview

• Larry Fink told CBS that crypto can serve as an alternative store of value similar to gold and called Bitcoin “not a bad asset” for diversification, while advising it remain a small slice of portfolios.
• Fink explicitly walked back his 2017 critique that Bitcoin was for “money launderers and thieves,” saying markets prompted him to revisit his assumptions.
• BlackRock’s iShares Bitcoin Trust has led U.S. spot Bitcoin ETFs with roughly $65.26 billion in cumulative inflows and recently neared $100 billion in assets, even after a market pullback.
• He reiterated that cryptocurrencies are volatile and urged caution, as IBIT’s assets and share price briefly retraced despite strong year-over-year gains and recent buying activity.
• In earlier communications this year, Fink warned that persistent U.S. debt risks could boost the appeal of digital assets, and he noted that roughly half of IBIT demand has come from retail investors, many new to iShares.