Larry Fink spoke alongside Coinbase CEO Brian Armstrong, describing how BlackRock's stance on crypto had evolved over the previous eight years.

Larry Fink, chair and CEO of asset management company BlackRock, explained his “big shift” from associating cryptocurrencies with illicit activities to having the largest spot Bitcoin exchange-traded fund.

Speaking at The New York Times’ DealBook Summit on Wednesday, Fink addressed questions related to his views on crypto and Bitcoin (BTC) from journalist Andrew Ross Sorkin.

The BlackRock CEO said his move from associating crypto primarily with money laundering to having exposure to billions of dollars in BTC was “a very glaring public example of a big shift in [his] opinions.”