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BlackRock CEO Larry Fink at the New York Times Dealbook Conference in Manhattan said that his company won’t launch crypto ETF until the industry is ‘legitimate.’

Fink said:

"I wouldn't say never, when it's [crypto industry] legitimate, yes."

The head of BlackRock also noticed that one day people “could have electronic trading for a currency that could be a store of wealth.”

Nevertheless, Fink admitted that BlackRock is a “huge believer in blockchain”:

“We are a huge believer in blockchain. The biggest use for blockchain will be in mortgages, mortgage applications, mortgage ownership, anything that's labored with paper.”

Earlier on September, the largest U.S. cryptocurrency exchange Coinbase was considering a possibility of running a bitcoin-ETF. For this purpose, the platform even began to consult with BlackRock.

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