The CEO of leading investment management firm BlackRock has revealed that there is no sufficient interest in cryptocurrencies from its clients, and most of them don’t consider it as part of their retirement strategies.

BlackRock CEO Larry Fink has revealed that their clients don’t consider cryptocurrencies to be long-term investments. He said this during an interview with CNBC yesterday, pointing out that their clients don’t have cryptocurrencies as retirement strategies at the moment.

Fink said the asset management firm had seen little demand for cryptocurrencies from its clients. He added that clients interested in cryptocurrencies and other volatile assets like meme stocks might not be part of their clientele. Fink said most clients working with BlackRock are long-term investors, and cryptocurrencies don’t fit into their strategies.

The dialogue is about how I should navigate my portfolio and how should I think about my portfolio over the long horizon,” Fink said. The BlackRock CEO believes that financial literacy is necessary if people are to start thinking long-term when it comes to their investments.

He lamented that most of the retail focus today is on market speculations and believes that the stock market could be the gateway to boost the understanding of many people who don’t consider strategic retirement planning.

The BlackRock exec said, “If we could improve financial literacy, if we could help more people focus on not just speculating of markets and the ups and downs but translating that into investing in the long run, the issue of retirement may be less of a problem for the next generation who are now focused on the equities markets.”

While BlackRock doesn’t have much interest in cryptocurrencies now, there are other traditional asset managers who have started granting their clients exposure to cryptocurrencies. While they don’t invest directly in cryptocurrencies at the moment, some asset managers such as Ark Invest, Rothschild Investment, Slatestone Wealth and several others gain exposure to cryptos via the Grayscale Bitcoin Trust (GBTC) and other crypto funds.

This post was originally published on Coinlist.