BlackRock CEO Was Surprised By Bitcoin ETFs Hype

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In an interview with Fox Business, BlackRock CEO Larry Fink expressed his pleasant surprise at the growing interest among retail investors in the company’s Bitcoin ETF, referring to it as “digital gold” and expressing optimism about its long-term viability.

He noted the increased liquidity and transparency in the market, stating that he hadn’t predicted this level of interest beforehand.

Following product approval, net inflows into BlackRock’s IBIT reached $13.86 billion, with its AUM rising to $17.21 billion, making it the second-largest after GBTC from Grayscale ($23 billion).

Fink suggested that the performance of both ETFs could be similar in the future, especially considering ongoing outflows from competitors. According to BuyBitcoinWorldwide, IBIT accounts for 1.17% of Bitcoin’s total supply.

Additionally, Fink addressed questions about the possibility of an ETH-ETF, considering Ethereum’s potential recognition as a security.