Blackrock CEO Fink weighs in on Bitcoin ETF rumor

BlackRock CEO Larry Fink on Monday weighed in on the firm's pending Bitcoin exchange-traded fund application following a wild morning after Cointelegraph reported it had been approved by the Securities and Exchange Commission (SEC). The news outlet retracted the story shortly after publication.

"I can't talk about the specifics of anything, I think it's just an example of the pent-up interest in crypto. We are hearing from clients around the world about the need for crypto," Fink said Monday afternoon during an appearance on "The Claman Countdown," while declining to comment on the status of the application.

Bitcoin rallied nearly 10% before settling back to the $28,000 level after the erroneous report. "Some of this rally is way beyond the rumor — I think the rally today is about a flight to quality, with all the issues around the Israeli war now, global terrorism, and I think there are more people running into a flight to quality," he added