Bloomberg senior ETF analyst Eric Balchunas shared on Tuesday the remarks made by Larry Fink, CEO of asset management company BlackRock, during the third-quarter earnings conference call regarding digital assets. Fink first stated that he was unsure if the US president or other candidates would have an impact on digital assets, but he was confident that the utilization of digital assets would increasingly become a reality worldwide.
Fink pointed out that the company considers Bitcoin itself as an asset class, serving as a substitute for other commodities such as gold. Therefore, he believed that the application of this investment form would expand, and the role of Ethereum as a blockchain could significantly grow.
Fink further expressed, “If we can create more acceptability, more transparency, and more analysis related to these assets, then it will expand.” He mentioned that this development process reminded him of the early mortgage market (now valued at $11 trillion). Fink also noted that BlackRock is currently discussing with global institutions how they should perceive digital assets and what kind of asset allocation should be carried out.
