Fink emphasized Bitcoin’s potential as a hedge against currency debasement:

 The New York-based firm also achieved a significant milestone with its BlackRock USD Institutional Digital Liquidity (BUIDL) fund, which has surpassed $500 million in market value. This makes it the highest-valued tokenized treasury fund globally, according to its issuer Securitize Markets.

Fink emphasized Bitcoin’s potential as a hedge against currency debasement: “It is a legitimate financial instrument that allows you to have maybe uncorrelated, non-correlated type of returns.”

Last week, crypto investment products saw $1.44 billion in net inflows, bringing year-to-date figures to a record $17.8 billion, according to CoinShares. IBIT has $18.44 billion in assets under management since trading commenced in January.

Fink’s endorsement is significant given BlackRock’s $10.6 trillion in assets. Bloomberg Senior ETF Analyst Eric Balchunas noted that such endorsements from legacy firms provide comfort to advisors considering Bitcoin for portfolios, stating it’s “hard to overstate how big a deal it is.”