CoinVoice has recently learned that according to The Block, Robert Mitchnick, head of digital assets at BlackRock, said at the Bitcoin 2024 conference that despite the launch of the spot Ethereum ETF this week, it is unlikely that funds tracking other crypto assets will appear.
He believes that Bitcoin and Ethereum are not competitors, but complementary. Bitcoin is a global currency alternative, while Ethereum is a technology platform.
Mitchnick pointed out that although there is no completely clear regulatory guidance yet, the SEC has made it clear that it will not approve a spot Ethereum ETF with a staking component. Mitchnick believes that crypto assets as a category will not disappear and will have more opportunities to enter the market. For example, competitor VanEck was the first company to apply to launch a Solana ETF, but experts believe that the ETF has little chance of being approved. [Original link]
