In a recent interview on FOX Business, BlackRock CEO Larry Fink shared his insights on the potential for an Ethereum exchange-traded fund (ETF) amidst regulatory scrutiny.
Despite concerns over a possible designation of Ethereum as a security by the U.S. Securities and Exchange Commission (SEC), Fink expressed confidence in the feasibility of launching such an ETF.
BlackRock and several other ETF providers have submitted applications for a spot Ethereum ETF to the SEC. However, there are doubts regarding the agencyâs approval of these ETFs as the May deadline approaches.
When asked about the SECâs stance on ETH possibly being classified as a security, Fink refrained from providing detailed commentary but remained optimistic. âBut I donât think that designation is going to be too deleterious,â Fink stated, suggesting that such a designation wouldnât necessarily hinder the creation of spot Ethereum ETFs.
It was recently disclosed that the SEC is exploring the classification of Ethereum as a security and has issued subpoenas to three companies for details regarding the Ethereum Foundation, a Swiss nonprofit important to the growth and advancement of the blockchain. This development has raised concerns about the possibility of launching an Ethereum ETF in the United States.
On the other hand, analysts in the field are sharing differing opinions. Bloombergâs ETF experts James Seyffart and Eric Balchunas have voiced doubts, pointing to the SECâs minimal interaction with filings as worrisome. However, Craig Salm has countered this argument, suggesting that the SECâs lack of engagement shouldnât necessarily signal the approval outcome.
Despite these challenges, Fink remains optimistic about Ethereumâs and Bitcoinâs long-term prospects. BlackRock is not only pursuing an Ethereum ETF but also operates one of the most successful spot Bitcoin funds, the iShares Bitcoin Fund (IBIT), which has amassed over $17 billion in assets under management since its approval in January.
IBIT is the âfastest-growing ETF in the history of ETFs,â Fink stated on Fox Business. He also said he is âvery bullish on the long-term viability of Bitcoin. Weâre creating now a market that has more liquidity, more transparency, and Iâm pleasantly surprised and would have never predicted it before we filed it that we were going to see this type of retail demand,â he added.
The post BlackRock CEO Remains Confident on Ethereum ETFs, Says IBIT Is The Fastest-Growing ETF appeared first on CryptoPotato.
Despite concerns over a possible designation of Ethereum as a security by the U.S. Securities and Exchange Commission (SEC), Fink expressed confidence in the feasibility of launching such an ETF.
SECâs Stance on Ethereum Raises Doubts
BlackRock and several other ETF providers have submitted applications for a spot Ethereum ETF to the SEC. However, there are doubts regarding the agencyâs approval of these ETFs as the May deadline approaches.
When asked about the SECâs stance on ETH possibly being classified as a security, Fink refrained from providing detailed commentary but remained optimistic. âBut I donât think that designation is going to be too deleterious,â Fink stated, suggesting that such a designation wouldnât necessarily hinder the creation of spot Ethereum ETFs.
It was recently disclosed that the SEC is exploring the classification of Ethereum as a security and has issued subpoenas to three companies for details regarding the Ethereum Foundation, a Swiss nonprofit important to the growth and advancement of the blockchain. This development has raised concerns about the possibility of launching an Ethereum ETF in the United States.
On the other hand, analysts in the field are sharing differing opinions. Bloombergâs ETF experts James Seyffart and Eric Balchunas have voiced doubts, pointing to the SECâs minimal interaction with filings as worrisome. However, Craig Salm has countered this argument, suggesting that the SECâs lack of engagement shouldnât necessarily signal the approval outcome.
Fink Bullish on Bitcoin
Despite these challenges, Fink remains optimistic about Ethereumâs and Bitcoinâs long-term prospects. BlackRock is not only pursuing an Ethereum ETF but also operates one of the most successful spot Bitcoin funds, the iShares Bitcoin Fund (IBIT), which has amassed over $17 billion in assets under management since its approval in January.
IBIT is the âfastest-growing ETF in the history of ETFs,â Fink stated on Fox Business. He also said he is âvery bullish on the long-term viability of Bitcoin. Weâre creating now a market that has more liquidity, more transparency, and Iâm pleasantly surprised and would have never predicted it before we filed it that we were going to see this type of retail demand,â he added.
The post BlackRock CEO Remains Confident on Ethereum ETFs, Says IBIT Is The Fastest-Growing ETF appeared first on CryptoPotato.
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