The world’s largest investment company BlackRock will offer its clients exchange traded cryptocurrency Fund (ETF) until you see that the industry was now Mature enough. Such a statement on Thursday, November 1, has made CEO Larry Fink for the New York Times Dealbook Conference, says CNBC.
Answering the question whether BlackRock the opportunity to launch a bitcoin ETF, Larry Fink said
“I won’t say “never”. When it [the industry] will be legitimate, Yes.”
As you know, the Commission on securities and exchange US (SEC) continues to have doubts about a bitcoin ETF, and not taking a positive decision in any of numerous applications. Among its disturbing moments, the Commission calls insufficient protection of investors and the possibility of market manipulation.
“Definitely needs support from the government. But no government is not allowed until you know that this money is not used for tax evasion and other similar things”, — said Larry Fink.
Many people mistakenly call bitcoin anonymous, and head of BlackRock has also hit the number, calling it attributed to bitcoin a property is one of the risk factors.
“We may one day start bidding for the currency, which is a means of preserving values. But at the moment the world does not need stored values, unless you store these values in order to do what is impossible”, — he added.
Simultaneously, Larry Fink again stated that BlackRock believes in the potential of blockchain technology that can be used in a wide range of products, which currently are still handled with paper documents. As an example, he cited the mortgage loans and other mortgage loans.
We will remind, in July, Larry Fink said that BlackRock clients are not interested in investing in crypto currencies because they are not interesting as an asset class. This, however, did not prevent the company, under which are assets of $6.4 trillion, to create a team of experts, which was tasked to analyze the information about the cryptocurrency and the blockchain, and then to decide whether or not to invest in bitcoin futures.
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