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ToggleLarry Fink is currently the CEO and co-founder of BlackRock, the world's largest asset management firm with total assets under management (AUM) exceeding 10.5 trillion USD as of 2024. With an influence spanning Wall Street and the global financial landscape, he is likened to the "silent power broker" of the modern investment market. Let's explore who Larry Fink is through the article below!
[The rest of the translation follows the same pattern, maintaining the structure and translating all text while preserving the <> tags]The Wall Street Leader with the Most "Far-Reaching" Voice
Larry Fink is likened to the "silent giant" of Wall Street. Each year, his shareholder letter is not only closely followed by investors but also cited and learned from by CEOs, central banks, and global policymakers. From topics like ESG (environment – social – governance), debt crisis, to the role of digital assets, his vision always creates a profound impact.
Notably, in 2020, when Fink promoted ESG as a mandatory investment trend, trillions of dollars flowed into ESG funds worldwide, creating an unprecedented wave in the sustainable finance industry.
BlackRock – "Central Bank of Central Banks"
During the COVID-19 pandemic, the US Federal Reserve (FED) chose BlackRock as a direct partner to purchase corporate bonds and ETFs to stabilize the financial market, something unprecedented before.
This event consolidated BlackRock's position as a "long arm" of central banks, a non-governmental organization that influences global financial flows.
Impact on Bitcoin and Crypto
Over the past decade, Larry Fink has significantly changed his view on Crypto. While he was once skeptical of Bitcoin, by 2023-2024, BlackRock was the pioneer in filing a Spot Bitcoin ETF, initiating the SEC's approval wave, changing the entire crypto industry's landscape.
BlackRock Bitcoin ETF (iShares Bitcoin Trust – IBIT) was not only approved but also became one of the fastest capital-attracting ETFs in history, legally and transparently bringing billions of dollars from institutional investors into the crypto market.
BlackRock's success with the Bitcoin ETF has led many traditional institutions like Fidelity, Invesco, ARK… to join, officially "opening the door" for decentralized finance to access large capital flows.
Larry Fink and Crypto: Bitcoin, ETF, and Tokenization
From Doubt to Action: Changing Perspective on Bitcoin
Before 2020, Larry Fink was skeptical about Bitcoin's value, seeing it as a volatile asset not yet "mature" for institutional investors. However, from 2021 onwards, especially after global inflation increased and confidence in fiat currency declined, he began to view Bitcoin as a form of "digital gold".
The peak of this change was BlackRock's filing and approval of the Spot Bitcoin ETF (IBIT) – a historic step in "legitimizing" Bitcoin for traditional investors. Fink once stated: "Bitcoin is a cross-border asset that can change how we think about currency." BlackRock's ETF is not just an investment product, but a "legal gateway" allowing billions of institutional capital to easily and safely flow into Bitcoin through pension funds, trusts, and individual investors.
Larry Fink leading BlackRock's deeper involvement in the crypto space has brought "legitimization" to this market. Many large financial institutions like Fidelity, Ark Invest, Franklin Templeton, Invesco,… have also followed BlackRock's lead. It can be said that Larry Fink's appearance in the "crypto game" has made him one of the most influential figures in institutional crypto acceptance.
From Belief to Specific Action – Asset Tokenization
Not stopping at Bitcoin, Larry Fink has emphasized that asset tokenization is the future of the financial system. He calls this the "next revolution" where traditional assets like government bonds, corporate stocks, real estate, promissory notes, trusts, commodities… can be placed on blockchain as tokens, trading 24/7 with high transparency, low fees, and instant liquidity.
"Distributed ledger will help reduce intermediary costs, enhance transparency, and reduce systemic risks. This is what the entire market is moving towards." – Larry Fink BlackRock is also collaborating with large organizations like JPMorgan, Securitize, Circle, and Venture Capital funds to experiment with bond and collateralized asset tokenization. The goal is to transform the current financial infrastructure to blockchain within the next 5-10 years.
Not Just Bitcoin – BlackRock is Also Eyeing Ethereum and Other Blockchains
Although Bitcoin is the top priority due to its transparency, decentralization, and potential as a value storage asset, BlackRock has also filed to issue an Ethereum Spot ETF at the end of 2023 and has been approved by the SEC. Moreover, Larry Fink says BlackRock will continue to evaluate other blockchains with potential in areas like:
- DeFi (decentralized finance)
- RWA (Real-World Assets)
- Supply chain data
- Cross-border payments
In the long-term vision, Larry Fink not only wants to bring current assets onto blockchain but also aims to rebuild the entire financial ecosystem on a decentralized platform, which he calls "Finance 3.0".
In summary, Larry Fink is no longer just a traditional asset manager but has become one of the leaders of the global blockchain financial revolution, transforming BlackRock from a "Wall Street giant" to a shaper of crypto and asset tokenization's future. His vision is a bridge between traditional Web2 finance and Web3 digital assets, where Bitcoin, Ethereum, and other blockchains will no longer be on the sidelines but become the foundation of the next digital economy.
Summary
Larry Fink is one of the most influential figures in global finance and is currently playing a crucial role in shaping the future of the crypto market. With a powerful and carefully calculated approach, Larry Fink has not only made BlackRock a crypto "giant" but also transformed himself into a pioneer for the integration of traditional finance and Web3.
