Even if the US Securities and Exchange Commission (SEC) classifies Ether (ETH) as a security, Larry Fink, the CEO of the large asset management company BlackRock, still believes that the issuance of Ether spot ETFs is possible.
According to a recent report by Fortune magazine, the SEC is currently investigating US cryptocurrency companies, and based on statements from US companies that have received investigation-related subpoenas, the SEC is actively pursuing legal action to classify Ether as a security. This news has dampened the industry’s hopes for the regulatory agency to approve BlackRock and other companies’ applications for Ether spot ETFs.
During an interview on Fox Business on Wednesday, the host discussed the market’s debate on the SEC’s attempt to classify Ether as a security. Although Fink was somewhat hesitant to discuss this issue, he still expressed his belief that this potential designation would not have a significant negative impact.
When asked if BlackRock would still be able to launch an Ether spot ETF if Ether were classified as a security, Fink replied, “That’s what I think.” Although this statement does not express certainty, it implies BlackRock’s interest in pushing for an Ether ETF.
Surprised by the performance of the Bitcoin spot ETF
BlackRock is one of the 11 issuers of Bitcoin spot ETFs in the US. Its “iShares Bitcoin Fund” (IBIT) is the most successful Bitcoin spot fund product to date, with assets under management exceeding $15 billion in just two and a half months. Fink stated during the program that IBIT is the “fastest-growing ETF in ETF history.”
When asked if the next step would be to launch an Ether fund product, Fink said, “We’ll wait and see.”
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