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Blackrock has not yet stated that they have any express interest in making products for the cryptocurrency industry, but they have stated that the market has a lot of potential in the near future. The chief multi-asset strategist at Blackrock stated that they are keeping cryptocurrency close to them but there are a few issues regarding safety, liquidity and the looming threat of regulation. He stated that “this is a very new thing, and to us at this stage, this is not an investable asset class. We’re not advising anyone to put money in it.”



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He further stated that “The fact that interest has persisted despite these repeated hacks, despite regulators waking up and trying to catch up with this new development and gradually weeding out all the illegal uses suggests there really is something to it. Clearly, it is evolving very fast.” The comments from the strategist come after many of the top firms in economic have stated that they do have an increased interest in utilizing blockchain technology. The stance from Blackrock may be coming from the fact that Vanguard, one of its most prominent competitors has stated that they have an increased interest in digital currency. The firm has stated that they will not do any investing in cryptocurrency, and that a fund for cryptocurrency won’t be created anytime soon.

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The whole of the cryptocurrency world has managed to gain a lot of attention in the mainstream media. After 2017 started, many investors decided to come into the cryptocurrency world given the high amount of hype that has become characteristic of the market. The hopes are high that more of these large economic firms will begin to show interest in the groundbreaking technology that powers the world’s top cryptocurrencies, but only time will tell.

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