[NEWS] BlackRock CEO comments, "There's value in owning an Ethereum spot ETF"

Larry Fink, CEO of BlackRock, the world's largest asset management company, said, "I think there is value in having an Ethereum (ETH) spot ETF." CNBC reported on the 12th.

The interview with Fink took place following the approval of the Bitcoin spot ETF. BlackRock recorded a trading volume of over $1 billion (about 146 billion yen) on the first day of Bitcoin spot ETF trading.

The company applied for an Ethereum spot ETF to the SEC (U.S. Securities and Exchange Commission) in November last year. The final deadline for applications is August 7th. Other companies that have applied include VanEck, Ark&21Shares, Grayscale, and several others. VanEck's final deadline is May 23rd.

Fink said he is focused on deploying blockchain technology to upgrade the existing financial system, and emphasized, "I think there is value in having an Ethereum ETF, but it's just a stepping stone to tokenization. ETFs are the first step in a technological revolution in financial markets."

Finck added, "We have the technology to tokenize all assets. Tokenized assets are recorded on a distributed ledger that's all created together. This eliminates any flaws," and reiterated his confidence that an Ethereum spot ETF will be approved in August.

Opinions are divided on approval

Eric Balchunas, senior ETF analyst at Bloomberg, said, "There's a 70% chance that the SEC will approve an Ethereum spot ETF by May," arguing that the chances of approval are high.

On the other hand, major bank JP Morgan sees a low chance of the SEC approving it in May. Joe Carlasar, a lawyer specializing in digital assets, also stated that "there is a good chance that an Ethereum spot ETF will be approved, but it will take longer than expected."

Reference: Report報道
Image: Shutterstock

Related articles

JP Morgan Bank estimates that Ethereum spot ETF approval will be less than 50% by May

SEC Chairman Gensler points out that the birth of spot ETFs "led to the centralization of Bitcoin"