Larry Fink, CEO of BlackRock, the world’s largest asset management company, stated on Wednesday that even if the U.S. Securities and Exchange Commission (SEC) classifies Ethereum as a security, they would still issue an Ethereum spot ETF. He also expressed surprise at the surge and demand for Bitcoin.
Recently, there have been reports that the SEC is preparing to classify Ethereum as a security. The SEC has subpoenaed several U.S. companies to provide relevant files related to the Ethereum Foundation, raising concerns that this may disrupt the listing of Ethereum spot ETFs.
However, Larry Fink, CEO of BlackRock, stated in an interview with Fox Business on Wednesday that he does not believe this classification by the SEC would cause significant harm. When asked if BlackRock would still issue an Ethereum spot ETF if Ethereum is classified as a security, he responded:
Currently, including BlackRock, eight issuers have submitted applications for Ethereum spot ETFs to the SEC (which has been repeatedly delayed for months). May 23rd will be an important date to determine whether Ethereum spot ETFs can pass, as it is the final approval deadline for VanEck’s application. However, industry experts predict that the probability of approval is not high.
In addition, Larry Fink also expressed surprise at the response from retail investors after BlackRock issued a Bitcoin spot ETF. He is very optimistic about the long-term survival ability of Bitcoin. SoSoValue data shows that BlackRock’s IBIT manages assets worth 17.1 billion US dollars, accounting for over 40% of the average daily trading volume of all Bitcoin spot ETFs. As Grayscale’s GBTC asset management scale rapidly declined to 23 billion US dollars, IBIT seems to be replacing GBTC and becoming the largest Bitcoin spot ETF in terms of scale. This also led Larry Fink to state:
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