Larry Fink traces the evolution of his thinking on Bitcoin: from a tool for money laundering to launching the world’s largest spot ETF.

BlackRock’s CEO, Larry Fink, recently described the journey that led him to revise his opinion on Bitcoin, moving from a strongly critical view to that of manager of the largest exchange-traded fund (ETF) on Bitcoin.

During the DealBook Summit organized by The New York Times on December 3, BlackRock’s chairman and CEO answered questions from journalist Andrew Ross Sorkin about his stance on Bitcoin and the digital asset sector. Fink described his journey as “a very glaring public example of a big shift in [his] opinions.”

Speaking alongside Brian Armstrong, CEO of Coinbase, Fink admitted: “My thought process always evolves.” Eight years ago, he primarily associated Bitcoin and digital assets with illicit activities such as money laundering. Today, however, BlackRock manages billions of dollars in BTC exposure through its spot ETF.

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