Bloomberg’s senior ETF analyst Eric Balchunas shared on Tuesday the discussion of digital assets by Larry Fink, CEO of asset management company BlackRock, during the third-quarter earnings conference call. Fink first expressed uncertainty about whether the U.S. president or other candidates would have an impact on digital assets, but he is sure that the use of digital assets will become increasingly global reality.
Fink pointed out that the company considers bitcoin itself as an asset class, as it is a substitute for other commodities such as gold. Therefore, he believes that the application of this investment form will be expanded, and the role of Ethereum as a blockchain can grow significantly.
Fink then stated, “If we can create more acceptability, more transparency, and more analysis related to these assets, then it will expand.” He said that this development process reminds 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.
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