BlackRock CEO Optimistic About Ethereum ETF Approval Despite Security Concerns
Larry Fink, CEO of BlackRock, remains optimistic about the approval of spot Ethereum (ETH) exchange-traded funds (ETFs) even if Ethereum is classified as a security.
In a recent interview on FOX Business, Fink expressed confidence that pending applications for spot ETH ETFs could still be approved despite potential security designation for Ethereum by the U.S. Securities and Exchange Commission (SEC).
Fink stated, “I don’t think that [security] designation is going to be that deleterious.” BlackRock, along with other companies, has submitted applications to the SEC for spot ETH ETFs following the successful launch of spot Bitcoin (BTC) ETFs in January.
While Bitcoin is considered a commodity by the SEC, the classification of Ethereum remains uncertain. Although SEC Chair Gary Gensler has not explicitly labeled ETH as a security, he has indicated that many digital assets, besides Bitcoin, could fall under the security category.
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Despite reports suggesting the SEC may classify ETH as a security, the U.S. Commodity Futures Trading Commission (CFTC) views Ethereum as a commodity. Fink believes that even if Ethereum is deemed a security, BlackRock could still proceed with launching a spot ETH ETF.
Fink also noted the strong demand for BlackRock’s iShares Bitcoin Trust (IBIT) spot BTC ETF, stating, “I’m very bullish on the long-term viability of Bitcoin.” He expressed surprise at the rapid growth and retail demand for IBIT, which he considers the fastest-growing ETF in history, with unprecedented asset accumulation.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
