In an interview between FOX Business Network Senior Correspondent Charles Gasparino and BlackRock CEO Larry Fink, the latter expressed optimism about the chances of the Spot Ethereum ETF being approved by the Securities and Exchange Commission (SEC). We shared our views.
BlackRock CEO announces support for ETH
In the latest edition of the Claman Countdown series, hosted by Liz Claman, Gasparino pointed out that the US SEC is on the verge of declaring Ethereum a security. This means regulators are doing everything in their power to remove the second-largest cryptocurrency by market capitalization from Bitcoin's product classification.
Considering the SEC's position on Ethereum, Gasparino posed a question to the BlackRock CEO, asking him how he thinks the whole situation will play out from an ETF perspective. Although Fink was a bit reluctant to answer questions, he responded to Gasparino's question and clarified that he doesn't think the potential designation given to Ethereum will have much of a negative impact on cryptocurrencies.
Further establishing Mr. Fink's position on Ethereum's classification, a FOX Business correspondent reports that Mr. Fink's company will continue to develop the Spot Ethereum ETF even if the underlying virtual currency is ultimately declared a security. I asked him if he was going to proceed. While Fink’s “I think so, yes,” response did not convey certainty, it nonetheless suggests that BlackRock is interested in a floating spot Ethereum ETF.
If you happen to be the best-performing asset management company. Spot Bitcoin ETF issuer, BlackRock's support for a potential Spot Ethereum ETF is not unfounded. While participating in the Claman Countdown series, Fink also Bitcoin ETF As the fastest growing ETF in history. The fact that the Bitcoin ETF conveniently outperformed the gold ETF supports the BlackRock CEO's assertion.
Wait for Spot Ethereum approval
In November, Blackrock applied A Spot Ethereum ETF was filed with the US SEC, but there has been no response from regulators regarding the application since then.
Rather, it is determined on the spot of the Ethereum ETF application. BlackRock was suspended by the US SEC Until March 10, 2024. It's been more than two weeks since the agency's new decision date and he still hasn't heard back.
Many market observers are suddenly starting to worry that a Spot Ethereum ETF may never become a reality. Their concerns were further exacerbated recently when SEC Chairman Gary Gensler began avoiding discussion of Ethereum ETFs.of The SEC Chairman also received the award. A letter from Rhode Island Sen. Jack Reed and California Sen. LaFonza Butler calls for close scrutiny and caution in the approval process for additional crypto ETFs.
The debate over Ethereum's classification as security rages on, and it is believed that this will most likely hinder its security potential. Spot Ethereum ETF Approval.
