In brief
- Rick Rieder, CIO of global fixed income at BlackRock, said the company is starting to dabble in crypto.
- The company has been teasing crypto products for a while now.
- Last month, BlackRock said it might get into Bitcoin futures trading.
In an interview with CNBC’s Squawk Box this morning, BlackRock executive Rick Rieder said the company has “started to dabble” in Bitcoin.
The statement essentially reaffirms what’s already been clear for some time: BlackRock, the world’s largest asset manager, has had a long courtship with crypto. And while it’s still a long way from offering something like a Bitcoin fund, there have been signs of adoption over the past few months.
In December, the company posted an open position for a “Vice President, Blockchain Lead,” suggesting new interest in cryptocurrencies.
And in SEC filings last month, BlackRock suggested that it may include Bitcoin futures in some of its funds, much to the delight of crypto industry executives.
Rieder seemed relatively optimistic about Bitcoin on the whole. “My sense is the technology has evolved and the regulation has evolved to the point where a number of people find it should be part of the portfolio,” he said.
“Crypto, generally, has gotten the imagination of a lot of people.”
The take isn’t new for Rieder, who made a similar statement on Squawk Box back in November. "I think cryptocurrency is here to stay," he said. “I think digital currency and the receptivity—particularly Millennial receptivity—of technology and cryptocurrency is real.”
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
