BlackRock seems to have registered an important decline in crypto demand from investors.
Larry Fink, the CEO of the company, declared yesterday that investors are asking less and less about crypto products, which means the demand has decreased.
“In the past, you’ve asked me about crypto and Bitcoin, again. And in my last two weeks of business travel, not one question has been asked about that. That is just not part of the focus of retirement and long-term investors. We see very little in terms of investor demand,” he declared.
This observation shouldn’t be surprising since Bitcoin fell by 16% across the previous 30 days, establishing itself around the $32,000 level. But this is a far cry from the ATH reached in April when only one Bitcoin was worth more than $64,000.
BlackRock is actually known for being crypto-friendly, and it even made an initial $425 million investment in Bitcoin in 2020 and has continued to invest in the cryptocurrency.
But how much these comments actually reflect reality, is hard to tell, since just the previous week, Bank of America declared it created a crypto research team as a result of increased institutional interest.