The CEO of BlackRock, the world’s largest asset manager, Larry Fink, expressed his surprise at the rise in Bitcoin and commented on the Ethereum ETF.
Larry Fink spoke to Fox Business’s Charlie Gasparino and Liz Claman on Wednesday, March 27th.
In his statement, Fink expressed his surprise at the demand for BlackRock’s iShares Bitcoin Trust (IBIT) ETF, as well as the rise in Bitcoin.
Nevertheless, Fink, who is optimistic about the long-term sustainability of Bitcoin, emphasized that “the market has become more transparent and liquid”:
“We could never have predicted such retail demand before applying. I was surprised at the rise of Bitcoin… We are creating a market with more liquidity and transparency. I am optimistic about long-term sustainability.”
Since the approval of the spot Bitcoin ETF by BlackRock, the company has hosted the highest inflows of funds, collecting about $16 billion in assets over a period of about 2 months.
Ethereum ETF Possible
In his speech, Larry Fink also mentioned the process of the spot Ethereum ETF, saying that at the end of the day, Ethereum could receive ETF approval from the SEC “even if it is defined as a security.”
Fink, who almost certainly expects this approval and hints at the possibility of a prolonged process, expressed his belief in the future of listing.
Recently, the confusion arose when the SEC defined Ethereum as a security, while the U.S. Commodity Futures Trading Commission (CFTC) defined it as a commodity.
BlackRock already has an application for the spot Ethereum issuance.
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