Investment corporation BlackRock, that manages assets on $6.3 trillion, is ready to launch Bitcoin-ETF, subject to full legalization of crypto industry. Larry Fink noted that governments should support the new tool. Only in this case, it has the right to exist. BlackRock CEO stressed:
I wouldn’t say never — when it’s legitimate, yes. It will ultimately have to be backed by a government.
The authorities of large countries must ensure that digital assets aren’t used for criminal purposes. The CEO of BlackRock added that Bitcoin’s anonymity could negatively affect prospects of coin, because it helps to evade taxes and raises many other problems. Nevertheless, the blockchain has a high potential for development. Previously a specialist repeatedly expressed negative opinions about digital currencies, which criminals use for own purposes.
Currently, the SEC is considering nine proposals for creation of ETF-funds, tied to cryptocurrency. The department hasn’t yet made a positive decision regarding the products, citing the insufficient safety of the tool for investors and probable market manipulations.