Financial Market

Bitcoin ETFs just first step in finance revolution

Bitcoin exchange-traded funds have arrived after a hard-fought battle between the crypto industry and the U.S. Securities and Exchange Commission. Larry Fink, CEO of BlackRock — the biggest asset manager in the world — thinks it’s just the first step toward a new financial world.

ETFs were seen as a way to give investors exposure to a young and risky asset class. But the value blockchain technology provider goes beyond bitcoin, and the new ETFs are just a precursor to broader tokenization of other assets, Fink told CNBC’s “Squawk Box” on Friday.

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