In a recent interview with Fox Business, BlackRock CEO Larry Fink has said that it would be possible to start an Ethereum exchange-traded fund (ETF) even if it were to be classified as a security.
The boss of the $9.1 trillion asset management does not think that such a designation would be “deleterious.”
According to ETF analyst Nate Geraci, Fink’s Ethereum-related comment is “highly interesting.” It suggests that the SEC is putting a serious effort into trying to classify the second-largest cryptocurrency as a security. Even though it is highly unlikely that the regulator will greenlight an Ether-based spot ETF in May, Geraci argues that such a product could be allowed post-security classification.
“This actually makes some sense & could allow SEC to thread needle given they already approved eth futures ETFs,” Geraci wrote on the X social media platform.
As reported by U.Today, the SEC has reportedly launched an aggressive campaign to classify the largest altcoin as a security despite the fact that it contradicts the stance of the CFTC, which has recognized Ether as a commodity. The Ethereum Foundation, a non-profit that is powering the Ethereum ecosystem, is reportedly under investigation.
“Very bullish” on Bitcoin
During the interview, Fink also said that he was “very bullish” on Bitcoin in the long term. He has admitted that the massive retail demand was unpredictable. As reported by U.Today, BlackRock’s IBIT has shattered numerous records, becoming the fastest-growing ETF.
At the same time, Robert Mitchnick, head of digital assets at BlackRock, recently stated that there was little demand for Ethereum from their clients. Other altcoins see virtually no demand, according to Mitchnick. He has stated that Bitcoin remains the number one priority for the financial giant.
