BlackRock CEO Larry Fink said he does not see much demand for crypto assets.

In an interview with CNBC Squawk Box published Wednesday, Fink said while he has been asked about Bitcoin and cryptos, in the past two weeks of his business travel, not a single question has been asked about digital assets.

“That is not part of the focus on retirement and long-term investors,” he said, adding, “We see very little in terms of investor demand on those types of things.”

While acknowledging that that kind of demand may not come to the asset manager, he said retirement funds are more interested in their portfolio over the long term. Fink said,

“Quite frankly, they may not come to BlackRock for that type of demand, but I would say for all the pension funds and insurance companies, for all that RIAs that we are talking to for their clients on behalf of their retirements, the dialogue is about how should I navigate my portfolio and how should I think about my portfolio over the long horizon.”

Previously, the CEO of the world’s largest manager said the leading cryptocurrency “had caught the attention and the imagination of many people” who are “fascinated” by it but noted that it hadn’t proven its long-term viability.

Just back in April, he said, Bitcoin can become a “great asset class.”

At the time as well, he said, “We make money on it, but I’m not here to tell you that we’re seeing broad-based interest by institutions worldwide,” adding that institutions may be “talking to somebody else.”

The asset management firm reported an adjusted quarterly profit of $10.03 per share during the quarter, beating the estimate, and had its assets under management surging to a record $9.49 trillion.

Still, BlackRock today fell 1.4% in premarket action.

Meanwhile, in his interview with CNBC, Fink said the long-term trend remains strong while talking about the US stock market. But, of course, he’s “not” saying that it’s going to be a straight-line upward. He added,

“But overall, with the amount of fiscal stimulus and monetary stimulus, and more importantly with the amount of cash that is looking to be put to work, I believe the trend line is still going to be upward.”

This, combined with low or negative rates is why, “Asset owners are the biggest beneficiaries of monetary policy,” he said.

As for meme stocks, Fink is hoping for improved financial literacy so that instead of only focusing on speculating, more people are investing in the long run — “I look at this as a possibly good first step,” he said.

However, he does not believe that inflation will be transitory as the Federal Reserve has been emphasizing; rather, it will be “more systematical.” Fink said,

“I believe it is a fundamental, foundational change in how we navigate economic policy…now we are saying jobs are more important than consumerism.”

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