BlackRock aims to make crypto investments more accessible

Asset manager BlackRock recently filed a Bitcoin ETF application with the SEC. The procedure has had such a positive impact that many analysts see the bitcoin (BTC) market exploding. In the meantime, the procedure initiated by BlackRock seems to have a more important, short-term objective.

Is democratizing cryptos the reason for BlackRock’s Bitcoin ETF application?

BlackRock’s recent foray into the crypto market had one objective. That of providing institutional investors with exposure to bitcoin (BTC). In a recent interview, however, the company’s CEO Larry Fink acknowledged a deeper ambition. That of broadening the accessibility of investments, including those in cryptos, to a wider public.

The boss explains that BlackRock’s objective is to democratize investment, including crypto investments. In other words, the company ultimately wants to make crypto investing accessible to everyone, regardless of their status. A goal, the attainment of which would be a matter of responsibility for the company.

BlackRock has a ‘responsibility to democratize investing,’ including in crypto, Larry Fink says #EconomyNews #CNBC #CNBCEconomy #CNBCNews [Video]The BlackRock CEO discussed the role of ETFs for cryptocurrencies on CNBC's "Squawk on the …https://t.co/S53U3HHJ37

— Lisa MacKay (@MacKayUSA) July 14, 2023

“We believe it is our responsibility to democratize investing. We’ve done a great job, and the role of ETFs in the world is transforming investing. And we’re just at the beginning,” said Larry Fink on Squawk on the Street.

The boss’s opinion brings a fresh perspective to the Bitcoin ETF application filed by the company he heads. Above all, it reinforces his change of stance on an asset he has long criticized. An asset offering so many prospects for traditional finance that BlackRock can no longer afford to ignore its potential.

During the interview, Larry Fink showed himself convinced of the alternatives offered by cryptos in terms of portfolio diversification. For many analysts, the involvement of a financial behemoth like BlackRock in the crypto market is certainly a positive sign.

For the time being, it’s not certain whether the company will get the green light from the SEC to manage an ETF on bitcoin. But it’s clear that the company’s infatuation with crypto activities is a positive signal that could change the dynamics of the sector.