BlackRock’s Larry Fink Optimistic about Bitcoin Ecosystem, Will Launch Ethereum Spot ETF Even if ETH is Considered a Security

Bitcoin fell below the 70,000 mark yesterday, and it was reported that a US court rejected Coinbase’s motion, allowing the SEC to continue its appeal against the custodian and exchange Coinbase for the Bitcoin spot ETF. However, BlackRock CEO Larry Fink praised the long-term survival ability of Bitcoin in an interview yesterday and will continue to support the issuance of Ethereum spot ETF, even if there are concerns about Ethereum being regarded as a security.

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Larry Fink from BlackRock remains optimistic about Ethereum spot ETF
Larry Fink is bullish on the long-term survival ability of Bitcoin
Fidelity officially submits S-1 form

According to a tweet by Fox Business reporter Eleanor Terrett, Larry Fink, CEO of BlackRock, was asked in an interview about the announcement by the US Securities and Exchange Commission (SEC) that Ethereum is considered a security, which has sparked a lot of controversy. How does this affect the issuance of ETF?

Larry Fink cautiously replied, “I really can’t talk about this, but I don’t think this determination will be that harmful.”

However, host Gasparino asked again, “Even if it is considered a security, would you still issue an ETH ETF?”

Fink gave a positive response, “I think so, yes!”

Fink also mentioned Bitcoin, stating that we are now creating a market with greater liquidity and transparency, which surprised him because he had never anticipated it before. Therefore, he is very optimistic about the long-term survival ability of Bitcoin.

Yesterday, Fidelity also officially submitted its S-1 form for the Ethereum spot ETF, officially joining the competition. According to Bloomberg ETF analyst James Seyffort’s sharing, there are currently eight issuers who have applied to the SEC, with the earliest approval date falling on May 23. However, Seyffort is currently not very optimistic about the chances of approval in May.

Larry Fink
Ethereum spot ETF
Fidelity
Bitcoin
BlackRock

Further reading
Can Hong Kong Overtake? Physical Bitcoin Spot ETF Could Be Approved in Q2
Bitcoin Falls Below 70K! SEC Can Appeal Against Coinbase, Bitcoin ETF May Be Affected