Larry Fink, CEO of BlackRock, the world’s largest asset management company, stated on Wednesday that even if the U.S. Securities and Exchange Commission (SEC) classifies Ethereum as a security, they will still issue an Ethereum spot ETF. He also mentioned his surprise at the rise and demand for Bitcoin.
The SEC has recently been reported to be preparing to classify Ethereum as a security. The SEC has subpoenaed several U.S. companies to provide relevant documents related to the Ethereum Foundation, raising concerns that this may disrupt the listing of Ethereum spot ETFs.
However, Larry Fink, CEO of BlackRock, stated in an interview with Fox Business on Wednesday that even if the SEC classifies Ethereum as a security, he does not believe it will cause much harm. When asked by the host if BlackRock would still issue an Ethereum spot ETF if Ethereum is considered a security, he responded:
Currently, including BlackRock and 8 other issuers, have submitted applications for Ethereum spot ETFs to the SEC (which has been delayed multiple times over the past few months). May 23rd will be an important date to determine whether Ethereum spot ETFs can pass, as it is the final deadline for VanEck’s application. However, industry experts predict that the approval probability is not high.
In addition, Larry Fink also expressed his surprise at the response from retail investors after BlackRock issued a spot Bitcoin ETF. He is very optimistic about the long-term survival of Bitcoin. SoSoValue data shows that BlackRock’s IBIT manages assets worth $17.1 billion, accounting for more than 40% of the average daily trading volume of all Bitcoin spot ETFs. As Grayscale’s GBTC asset management scale has rapidly declined to $23 billion, IBIT seems to be replacing GBTC and becoming the largest Bitcoin spot ETF in terms of scale. This also led Larry Fink to state:
[Image]
[Image]
Related Reports
$47 billion inflows into Bitcoin? Cetera Financial opens BlackRock IBIT and other spot ETFs to clients
Uncertainty for Ethereum spot ETF! SEC further delays BlackRock and Fidelity applications, seeks opinions on PoS
Reason for BTC’s surge? BlackRock plans to allow its $36.5 billion investment fund “BSIIX” to buy Bitcoin.