BlackRock ETF Chief Is Staying Away From Digital Currency Funds
- Mark Wiedman wouldn’t tell clients to hold bitcoin long-term
- Global head of iShares also dismisses ‘orphaned stock’ idea
Why BlackRock ETF Chief Won't Launch a Bitcoin Fund
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The person who oversees BlackRock Inc.’s iShares exchange-traded funds says he can’t see the asset manager launching a bitcoin or virtual-currency ETF.
“We said our whole product line is being products that we would encourage our clients, whether they’re individuals or institutional, to hold in perpetuity,” BlackRock’s Mark Wiedman told Bloomberg TV’s Erik Schatzker in an interview Tuesday. “I would not encourage a client to hold bitcoin in perpetuity.”