BlockRock’s Fink Says $9T Manager Sees Increased Demand for Crypto

BlackRock’s CEO Larry Fink said during a conference call Wednesday that the manager with $9 trillion in assets under management is “increasingly seeing interest” for cryptocurrencies from its clients, the Wall Street Journal reports. While Fink did not go into details, he said that the firm is already studying the crypto market, including stablecoins, permissioned blockchains and “tokenization.”

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“We are increasingly seeing interest from our clients,” Fink said.

BlackRock CEO Describes Scenario for Crypto Adoption

Fink’s comments come after the New York-based firm invested in Circle, a company behind the USDC stablecoin. He revealed that BlackRock hopes that it eventually will become the primary manager of Circle’s reserves. As iHodl previously reported, Circle raised $400 million from a pool of investors, including BlackRock and Fidelity. The company is also planning to go public through a special purpose acquisition corporation later this year.

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