In a recent interview with Fox Business, BlackRock CEO Larry Fink said that it would be possible to set up an Ethereum exchange-traded fund (ETF) even if it were classified as a security.
The boss, who oversees $9.1 trillion in assets, does not believe such a designation would be "harmful." ETF analyst Nate Geraci said Fink’s comments related to Ethereum were “very interesting.” This shows that the SEC is making serious efforts to try to classify the second-largest cryptocurrency as a security. While regulators are unlikely to approve Ethereum-based spot ETFs in May, Geraci believes such products may be allowed following a security classification.
Geraci wrote on the The commission has launched an aggressive campaign to classify the largest altcoins as securities, despite contradicting the position of the U.S. Commodity Futures Trading Commission (CFTC), which has considered ether a commodity. The Ethereum Foundation, the non-profit organization that powers the Ethereum ecosystem, is reportedly under investigation.
“Very Bullish” on Bitcoin Fink also said in the interview that he is “very bullish” on Bitcoin in the long run.
He acknowledged that huge retail demand is unpredictable. BlackRock's IBIT broke multiple records and became the fastest-growing ETF, according to USA Today . Meanwhile, Robert Michnick, BlackRock’s head of digital assets, recently stated that there is little demand for Ethereum from their clients. Michnik said there is little demand for other altcoins. He said Bitcoin remains a top priority for the financial giant.$ETH $BTC
