Black Rock says clients not interested in crypto, forms research team

16 Jul, 2018
by Ryan Boltman
News
Black Rock says clients not interested in crypto, forms research team

CEO of Black Rock investment management company, Larry Fink believes none of Black Rock's clients currently have any interest in crypto exposure with the company.

Bloomberg has reported that Fink's Black Rock Inc., who currently have over $6.3 trillion in assets under management, do not feel the need to offer services for their clients to purchase cryptocurrencies.

While Fink admits that he is excited about the possibilities that blockchain possesses, when it comes to digital assets he admits "I've not hear from one client who says, 'I need to be in this."

Black Rock Inc. appear to be taking a different approach to some of the other big players in Wall Street. JP Morgan and Goldman Sachs have already implemented technology and infrastructure to assist with the purchasing of cryptocurrencies. Fink admits they are not currently exploring the options to do so either.

While the news comes as a surprise to most, Black Rock Inc. have in fact formed a research team which includes multi-asset strategist Terry Simpso, to investigate and analyze the crypto industry's blockchain technology.

Bloomberg's interview with Fink comes with a new two week high for Bitcoin which broke $6,600. Some believe the news regarding Black Rock researching possible business ideas with blockchain could see some of the assets big money coming into the crypto industry in the near future.

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