[NEWS] "Even if it is classified as a security, an Ethereum spot ETF is feasible," says BlackRock CEO

Larry Fink, CEO of BlackRock, the world's largest asset management company, expressed optimism about the approval of an Ethereum spot ETF.

In an interview with Fox Business on the 27th of last month, Fink stated his view that even if the SEC (U.S. Securities and Exchange Commission) considers Ethereum to be a security, "I think a spot ETF will be approved." He also added that "I don't think that classification (as a security) will be harmful." This shows that it is quite possible to realize an Ethereum spot ETF at this point.

BlackRock has applied for an Ethereum spot ETF, "iShares Ethereum Trust," as a cryptocurrency (virtual currency) spot ETF following the Bitcoin spot ETF. As the SEC has begun an investigation into Ethereum and the movement to classify it as a security has strengthened, expectations for the approval of a spot ETF are declining.

Meanwhile, BlackRock launched its first tokenized investment fund, BUIDL, on Ethereum on the 20th of last month. BitGo, Coinbase, Fireblocks, and others are participating in this fund, and investors can receive yields while holding tokens.

Just one week after the fund's launch, it has seen an inflow of about $160 million (about 24.2 billion yen), and demand is likely to continue to grow.

Bitcoin spot ETFs in high demand

Bitcoin spot ETFs were approved and traded in January, but they are still in high demand from institutional investors and others. In particular, the inflow of funds into BlackRock's iShares Bitcoin Trust is particularly notable, and it is only a matter of time before it surpasses Grayscale's GBTC, which currently holds the most Bitcoin.

At present, eight companies, including BlackRock, have applied for Ethereum spot ETFs. Even when an Ethereum spot ETF is approved and trading begins, it is quite possible that BlackRock will take the lead, so attention is expected to be focused on the trend.

Reference: Interview
Image: Shutterstock

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