From Bitcoin becoming a "money laundering index" to "pursuit of quality", BlackRock has completely changed its attitude towards crypto assets in the past few years.

BlackRock is the world's largest asset management company, with trillions of dollars in assets under management. Founded in 1988, the company provides a range of financial services, including investment management, risk management and advisory services, to institutional and retail clients around the world.

As a major player in the global financial industry, BlackRock's decisions and strategies can have a significant impact on financial markets. Their position allows them to influence the direction of investment trends, making their views on emerging asset classes such as cryptocurrencies particularly newsworthy and influential.

Let’s take a year-by-year look and see how their thinking has changed.

BlackRock's journey into cryptocurrency: From skepticism to embrace

As BlackRock continues to push into the cryptocurrency market, its CEO Larry Fink's views have also undergone multiple changes. From initial skepticism to active participation today, BlackRock's evolution in the cryptocurrency field has been remarkable. Here are some key moments for Larry Fink and BlackRock over the past few years:

2017 – “Initial Doubts”:

  • October 3: Larry Fink says on Bloomberg TV that he is a "big believer" in cryptocurrencies but expresses concern that the market is full of speculation.

  • Oct. 13: Fink calls Bitcoin an “indicator of money laundering” in a CNBC interview and compares cryptocurrency hype to the Dutch tulip bulb craze.

2018 – “Caution and Legality”:

  • July 16: Fink says BlackRock clients are not interested in buying cryptocurrencies, stressing the need for the industry to demonstrate legitimacy and transparency.

2019 – “Digital transformation begins”:

  • April 3: Former Ripple employee Robbie Mitchnick is named head of digital assets at BlackRock.

  • July 19: Fink stressed the need for an efficient cross-border payments system on CNBC, citing the urgent need to reduce fees for cross-currency transactions.

2020 — “Crypto Acceptance”:

  • November 20: Rick Rieder, BlackRock’s chief investment officer of fixed income, mentioned on CNBC that cryptocurrencies “are here to stay.”

  • December 1: Amid a surge in Bitcoin prices, Fink warns that Bitcoin could erode the importance of the U.S. dollar.

2021 - "Watch carefully":

  • January 27: Fink said in a Bloomberg interview that they are watching the situation with Bitcoin but it is “not confirmed yet.”

  • Oct. 13: Fink says on CNBC that he prefers the view of JPMorgan Chase CEO Jamie Dimon.

2022 - "Active Engagement":

  • February 9: BlackRock plans to launch cryptocurrency trading on its Aladdin platform.

  • March 24: Fink notes in investor letter that Russia’s invasion of Ukraine could accelerate digital currency adoption.

  • August 4: BlackRock and Coinbase form a partnership to provide cryptocurrency trading services on the Aladdin platform.

  • August 11: BlackRock launches a spot Bitcoin Trust tailored for institutional investors.

  • November 30: BlackRock makes $24 million investment in failed cryptocurrency exchange FTX.

2023 — “Embrace and Capitalization of Cryptocurrencies”:

  • June 15: BlackRock filed for registration of the BlackRock iShares Bitcoin Trust Bitcoin spot ETF with the SEC.

  • July 5: Fink says BlackRock aims to “democratize” cryptocurrencies and predicts they will surpass global currencies by 2023.

  • Oct. 16: Fink attributes the market rebound to a “flight to quality” amid global tensions during an appearance on Fox Business and confirms growing interest in cryptocurrencies among BlackRock clients.

Summary and Outlook: Larry Fink and BlackRock's change in attitude towards the cryptocurrency field is remarkable. This shift is not only influenced by financial considerations, but also has a positive impact on the entire crypto industry. With the potential approval of ETFs and the expectation of Bitcoin halving, 2024 will be a critical period for cryptocurrencies to usher in new developments. BlackRock's journey in cryptocurrency, from suspicion to embrace, has witnessed the development and transformation of the entire industry.

What do you guys think about the prospects of the cryptocurrency field in 2024? Let’s discuss and share your views together!

If you want to know more about the latest market information and trading tips, click on the avatar to follow Lao Lin. Thank you for reading!
#贝莱德 #ETF批准 #BTC $ETH $BNB $OP