The CEO of BlackRock called Bitcoin a legitimate financial instrument

The CEO of BlackRock stated that Bitcoin is a legitimate financial instrument. Larry Fink mentioned on CNBC that Bitcoin offers an investment opportunity in times of high uncertainty, as this cryptocurrency is not controlled by any country.

On July 15, the company announced that in the second quarter, the volume of assets under management (AUM) amounted to $10.6 trillion, which is 13% more compared to the same period last year. According to BlackRock, this increase is partially due to inflows into ETFs.

BlackRock issues an exchange-traded fund based on the spot price of Bitcoin. At the end of May, this fund (IBIT) surpassed the competitor from Grayscale in terms of AUM, reaching $19.68 billion.

According to SoSoValue, the net inflow into IBIT from BlackRock after the product's approval reached $18.26 billion, and the instrument's AUM stands at $18.32 billion.