BlackRock's Larry Fink is confident in Spot Ether ETF even if virtual currency is considered a security – DL News

BlackRock CEO Larry Fink said Wednesday that the company may create a Spot Ether exchange-traded fund even if the U.S. Securities and Exchange Commission classifies Ether as a security. Ta.

BlackRock is one of several ETF providers that has filed a Spot Ether ETF with the SEC, but some have expressed doubts that the agency will approve the ETF by the May deadline.

Fink said. fox businessCharlie Gasparino When Gasparino was asked if the SEC might designate Ether as a security, he couldn't offer much of a discussion.

“But I don't think that designation would be that detrimental,” Fink said, suggesting that a potential security designation would not prevent the creation of a Spot Ether ETF.

last week, luck The magazine reported that the SEC has subpoenaed three companies regarding information regarding the Ethereum Foundation, a Swiss-based non-profit organization that contributes to the growth and development of the Ethereum blockchain. The article highlights the authorities' potential aim to designate Ether as a security, as opposed to Bitcoin, which is classified as a commodity.

If the SEC labels Ether a security, it could use that designation as an excuse to delay or deny the issuance of a Spot Ether ETF, said crypto lawyer Gabriel Shapiro. DL News That's “probably their biggest goal,” Shapiro said earlier this month.

Bitcoin ETF

upon fox business, Fink said he is “very bullish on Bitcoin's long-term viability.” BlackRock's iShares Bitcoin Trust ETF has reached $17 billion in assets under management since being approved as the fastest-growing ETF in history on January 10th.

“It was a pleasant surprise and we never would have expected to see this kind of retail demand before we applied,” Fink said.

Tyler Pearson is a markets correspondent for DL ​​News. He is based in Alberta, Canada. Any tips?Please contact ty@dlnews.com.