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HomeCrypto NewsMarketBlackRock CEO Larry Fink Announces IBIT Bitcoin ETF Surpasses $100 Billion

BlackRock CEO Larry Fink Announces IBIT Bitcoin ETF Surpasses $100 Billion

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The BlackRock CEO, Larry Fink, revealed live on CNBC that the firm’s spot Bitcoin ETF, IBIT, has surpassed $100 billion in assets under management (AUM).

This remarkable achievement comes just under two years after the product’s launch. During the interview, Fink highlighted how the company is increasing its focus on digital assets as part of a strategy to innovate across both traditional and emerging investment vehicles.

“Two years ago, we had zero dollars in this space,” Fink remarked, emphasizing the rapid expansion. Amid the massive inflows into its Bitcoin ETF, BlackRock’s product continues to rank among the fastest-growing ETFs globally.

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BlackRock’s Bitcoin Holdings

Indeed, the world’s largest asset manager currently holds 804,944 BTC. At today’s lower prices, that equates to approximately $89 billion. However, as of last week, when Bitcoin reached an all-time high, BlackRock’s holdings exceeded $100 billion.

Notably, BlackRock’s Bitcoin holdings amount to 3.833% of the total BTC supply. The only company with a comparable share is Strategy (formerly MicroStrategy), which holds 640,250 BTC, representing 3.048% of Bitcoin’s total supply.

Beyond Bitcoin, the firm also holds significant investments in Ethereum. BlackRock currently manages an Ethereum portfolio valued at over $17.3 billion.

New Vision: “Tokenize Everything”

During the interview, the BlackRock CEO also discussed the company’s broader plans for digital assets. He believes that tokenization will soon be applied to everything from real estate to stocks and bonds. This aligns with BlackRock’s vision of bringing traditional investment assets into the digital finance ecosystem.

Fink sees tokenization as a key trend for the future. It opens up new opportunities for investors, especially younger generations who are more inclined toward digital and crypto-based assets.

With $4.1 trillion sitting in digital wallets worldwide, BlackRock sees a major opportunity to engage digital-first investors and bring them into traditional, long-term investment products.

BlackRock’s Commitment to Digital Innovation

The firm is also investing heavily in technology to improve digital asset management, including tokenized money market funds. One such product, BUIDL, is already the largest tokenized cash money market fund.

Fink emphasized that this is just the beginning, as BlackRock continues to innovate in the digital finance space.

Notably, Fink had previously expressed caution regarding cryptocurrencies. Meanwhile, his perspective has shifted as the sector has matured. In an earlier interview on 60 Minutes, he acknowledged this change, stating that Bitcoin is a suitable asset for diversification, comparable to gold.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a seasoned crypto journalist who has established himself as a trusted voice in the world of blockchain and Web3. His extensive knowledge of the crypto space enables him to break down complex concepts into accessible language.

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