Larry Fink downplays talk about the asset manager getting involved in crypto
Reports that Blackrock is interested in cryptocurrencies helped to launch a 4% rally in Bitcoin today while lifting the rest of the crypto market. But the head of the firm downplayed the news in comments to Bloomberg today.
"I don't believe any client has sought out crypto exposure," Chief Executive Officer Larry Fink said in an interview on Bloomberg Television Monday. "I've not heard from one client who says, 'I need to be in this.'"
He said the firm, which manages more than $6 trillion, is studying crypto to see if it can be 'legitimized' but that at the moment, no clients want exposure and he's not preparing for that in the future.
Meanwhile Fink said he's "very excited" about blockchain technology, possibly as a means to enhance BlackRock's Aladdin system for risk management, portfolio management and trading.
