Bloomberg senior ETF analyst Eric Balchunas shared on Tuesday the remarks of Larry Fink, CEO of asset management company BlackRock, during the third-quarter earnings conference call regarding digital assets. Fink first expressed uncertainty about whether the U.S. president or other candidates would have an impact on digital assets, but he was confident that the use of digital assets would become increasingly global.
Fink pointed out that the company considers Bitcoin itself as an asset class, a substitute for other commodities such as gold, and therefore he believes that the use of this investment form will be expanded, and that Ethereum, in its role as a blockchain, has the potential for significant growth.
Fink went on to say, “If we can create more acceptability, more transparency, and more analysis related to these assets, then they will expand.” He said this development process reminded him of the early mortgage market (now worth 11 trillion US dollars). Fink also noted that BlackRock is currently discussing with global institutions how they should view digital assets and what kind of asset allocation should be made.