No topic has done more to bring hope to the crypto faithful in 2023 than the prospect of a spot Bitcoin ETF—and no one person has done more to make that dream a reality than BlackRock CEO Larry Fink.

A Bitcoin ETF, which could open the floodgates for billions worth of institutional assets to flow into the market, has eluded crypto investors for more than a decade. It’s been the most highly anticipated event in crypto since Decrypt was founded in 2018. But following rejection after rejection from the SEC, citing the potential for manipulation in the Bitcoin market, it had been mostly written off as a lost cause. Then Fink and BlackRock changed the game—and in dramatic, completely unexpected fashion.

In June, BlackRock shocked the crypto world when it put its Wall Street weight behind a Bitcoin ETF, filing an application with the SEC for its iShares Bitcoin Trust. Fink then began singing Bitcoin’s praises to mainstream audiences on national television. The Bitcoin ETF odds instantly changed.

But Fink wasn’t always so bullish—and his evolving relationship with crypto and what this could mean for the market is why he is Decrypt’s Person of the Year.

It wasn’t so long ago, after all, that Fink had dismissed Bitcoin as an “index of money laundering.” But we shouldn’t get hung up on comments from 2017,

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Author: Stacy Elliott

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