Larry Fink, the co-founder and current chairman and CEO of BlackRock, recently expressed his astonishment at the strong response from retail investors towards their new Bitcoin ETF. In an interview with Fox Business, Fink shared his optimistic outlook on the long-term prospects of Bitcoin and highlighted the unexpected level of retail interest in BlackRock’s iShares Bitcoin Trust (IBIT).

Fink admitted that the overwhelming retail demand for IBIT took him by surprise, stating, “We never expected such a response when we initially launched it.” He also noted the remarkable surge in Bitcoin's value, remarking on the increased liquidity and transparency in the market as a result.

The success of IBIT is evident in its rapid growth, amassing $16 billion in assets under management and dominating over 40% of the daily trading volumes of all Bitcoin ETFs. When questioned about his expectations for this achievement, Fink confidently affirmed his belief in its potential.

Moreover, since its launch in January, IBIT is poised to outperform Grayscale’s spot Bitcoin ETF (GBTC), which has a decade-long history in a different form. Fink proudly proclaimed, “IBIT stands as the fastest-growing ETF in the entire history of ETFs,” showcasing the remarkable success and impact of BlackRock's venture into the Bitcoin market.