Even though the U.S. Securities and Exchange Commission (SEC) has classified Ether (ETH) as a security, the CEO of BlackRock, Larry Fink, still believes that the issuance of a spot Ether ETF is possible.
Recently, Fortune magazine reported that the SEC is conducting an investigation into U.S. cryptocurrency companies, and according to statements from U.S. companies that have received investigation-related subpoenas, the SEC is actively pursuing legal action to classify Ether as a security. This news has dampened industry hopes for the approval of BlackRock and other companies’ applications for Ether spot ETFs.
During an interview on the Fox Business program on Wednesday (27th), the host discussed the market debate regarding the SEC’s attempt to classify Ether as a security. While Fink seemed hesitant to discuss the issue, he still expressed his belief that this potential designation would not have a significant negative impact.
When asked if BlackRock could still launch a spot Ether ETF if Ether were deemed a security, Fink replied, “That’s what I think.” Although this statement does not express certainty, it implies BlackRock’s interest in promoting an Ether ETF.
Contrasting the performance of the Bitcoin spot ETF, Fink expressed surprise. BlackRock is one of the 11 issuers of Bitcoin spot ETFs in the United States, and its “iShares Bitcoin Fund” (IBIT) is the most successful Bitcoin spot fund product to date, reaching over $15 billion in assets under management in just two and a half months. Fink stated on the program that IBIT is the “fastest-growing ETF in ETF history.”
When asked about the next steps for introducing an Ether fund product, Fink said, “We’ll wait and see.”
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