BlackRock CEO Larry Fink Doubles Down on His Bullish Stance on Bitcoin, Citing IBIT's Record-Breaking Demand

BlackRock CEO Larry Fink has reaffirmed his bullish stance on Bitcoin, citing record-breaking demand for the firm's iShares Bitcoin ETF (IBIT).

BlackRock CEO Larry Fink has expressed bullish sentiments towards Bitcoin again, highlighting the record-breaking demand for the firm’s iShares Bitcoin ETF (IBIT).

In an interview with FOX Business News, Fink stated, “I’m very bullish on the long-term viability of Bitcoin.” He also noted being surprised by the massive retail interest in IBIT.

“I would never have predicted we were going to see this type of retail demand,” he said.

Launched in January 2024, IBIT ETF has become the fastest-growing ETF in history, outpacing Grayscale, the long-time leader in Bitcoin ETF investments.

IBIT Solidifies Position as 3rd Largest ETF Globally

Fink’s comments come as IBIT solidifies its position among the largest ETFs in the global ETF market. According to the ETFs’ performance report for 2024, IBIT ETF amassed over $37 billion in assets. This figure ranks third on the 2024 ETF leaderboard behind only Vanguard’s S&P 500 ETF (VOO) and iShares Core S&P 500 ETF (IVV).

While traditional equity ETFs continue to dominate, IBIT’s rapid growth reflects a shift in investor sentiment, with institutional and retail investors increasingly turning to Bitcoin ETFs.

notably, as BlackRock’s IBIT amassed over $37 billion in new investments in 2024, Grayscale’s Bitcoin Trust (GBTC) bled $21.3 billion in outflows in 2024. Meanwhile, IBIT’s figure has improved even further to $40 billion.

Fidelity Wise Origin Bitcoin Fund (FBTC), BlackRock’s closest competitor in the Bitcoin U.S. ETF market, registered strong inflows but remains far behind IBIT. Presently, FBTC has seen over $12 billion in inflows.

Bitcoin Price Surges Past $98K

The massive inflows into IBIT have also impacted the Bitcoin spot market.

Bitcoin surpassed the $100K threshold, reaching a peak near $110K. As of this press time, Bitcoin trades at $98,592, a 1.2% gain in the past day.