Sovereign Wealth Funds Were Buyers as Bitcoin Plunged: BlackRock's Larry Fink

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Sovereign Wealth Funds Were Buyers as Bitcoin Plunged: BlackRock's Larry Fink The CEO of the asset management giant, whose IBIT is the largest of the spot BTC ETFs, said the state actors were buying not for a trade, but to hold for years. By Helene Braun | Edited by Stephen Alpher Dec 4, 2025, 5:32 p.m. Brian Armstrong and Larry Fink speak onstage during The New York Times DealBook Summit 2025 at Jazz at Lincoln Center on December 03, 2025 in New York City. (David Dee Delgado/Getty Images) What to know : BlackRock CEO Larry Fink said sovereign wealth funds have been steadily accumulating bitcoin, including buying as the price tumbled below $90,000. Fink described the purchases as part of long-term investment strategies, not short-term trading. He reiterated bitcoin’s potential as a hedge against inflation and sovereign debt, calling it a “big, large use case.” Sovereign wealth funds were buying the dip in bitcoin BTC $ 92,240.09 , according to BlackRock CEO Larry Fink. “We’re seeing more and more legitimate, long-holding investors investing in it,” Fink said Wednesday at the New York Times DealBook Summit in New York. “I can tell you there are a number of sovereign funds [...] they are adding incrementally at $120,000, $100,000; I know they bought more in the $80s.” STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . That state actors have been buyers of bitcoin isn't news — Abu Dhabi's Mubadala Investment Company and Luxembourg's sovereign wealth fund are among those that have previously disclosed investments in the spot bitcoin ETFs. That SWFs were adding to positions as bitcoin plunged below the $90,000 level in recent weeks is notable though, as Fink continued: “They’re establishing a longer position and then you own it over years ... It’s not a trade, you own it for a purpose.” Fink’s remarks reflect a growing shift in how some of the world’s largest investors are approaching bitcoin. While the asset’s price remains volatile, institutional interest — particularly from sovereign funds managing national wealth — signals confidence in the asset's long-term resilience. Fink, who once dismissed bitcoin, has gradually become one of its most prominent institutional advocates. Under his leadership, BlackRock launched the iShares Bitcoin Trust (IBIT), which has drawn billions in assets since its debut in early 2024 has become the asset manager's most profitable exchange-traded fund (ETF). At the DealBook event, Fink again emphasized bitcoin’s appeal as a hedge against growing government debt and inflation. “I believe there is a big, large use case for it,” he said, framing the asset less as a vehicle for speculation and more as a way to protect against currency debasement. Larry Fink Bitcoin News More For You Protocol Research: GoPlus Security By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus What to know : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M. 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