BlackRock CEO: Surprised by Bitcoin's rise! If ETH is listed as a securities, Ethereum spot ETF will still be issued

The U.S. Securities and Exchange Commission (SEC) recently announced that it is preparing to classify Ethereum as a security. The SEC has subpoenaed several U.S. companies and asked them to provide relevant information on their dealings with the Ethereum Foundation. Document, market concerns may affect plans to list Ethereum spot ETF.

Larry Fink, founder and CEO of Blackstone Group, one of the world’s largest asset managers, said in an interview with Fox Business Channel that although the U.S. Securities and Exchange Commission may classify Ethereum as a security, But he doesn't think it will cause significant harm. When asked by the moderator whether BlackRock would launch an Ethereum spot exchange-traded fund if Ethereum was considered a security, he responded: "I think so."

Currently includes Eight issuers, including BlackRock, have submitted Ethereum spot ETF applications to the SEC. May 23 will be an important date for whether the Ethereum spot ETF can be passed, because this is the final approval deadline for VanEck’s application, but industry experts It is predicted that the chance of approval by then is not high.

Very Surprised by Bitcoin’s Rise

In addition, Larry Fink also said that he was pleasantly surprised by the response from retail investors after BlackRock issued the spot Bitcoin ETF, and he was very optimistic about it. Bitcoin’s Long-term Storage Capacity: We never expected before submitting the application that there would be this level of retail demand, and I’m surprised by the growth of Bitcoin… We are creating a market with more liquidity and better transparency .

SoSoValue data shows that BlackRock’s IBIT assets under management have reached US$17.1 billion, accounting for more than 40% of the average daily trading volume of all Bitcoin spot ETFs. As Grayscale’s GBTC asset management scale has Rapidly falling to US$23 billion, IBIT seems to be about to replace GBTC and become the largest Bitcoin spot ETF. This also made Larry Fink say: IBIT is the fastest growing ETF in the history of ETFs.

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