BlackRock, the world’s largest asset manager, has expressed support for an Ethereum ETF. CEO Larry Fink made these comments a day after the company’s Bitcoin ETF started trading. In a CNBC interview, Fink endorsed the idea of an Ethereum investment product for mainstream investors. He sees the value in an Ethereum ETF and believes these are stepping stones towards tokenization.
BlackRock’s Bitcoin trust, iShares Bitcoin ETF (IBIT), accounted for approximately $1 billion of the total $4.6 billion Bitcoin ETF trading debut. The firm seems interested in expanding its crypto offering, reflecting Fink’s broader conviction about blockchain-based tokenization. However, Fink does not see cryptocurrencies becoming viable currencies.
The launch of IBIT and other Bitcoin ETFs this week is a significant milestone for crypto assets after years of regulatory rejection. Fink suggested that BlackRock is now looking to bring a similar, easily accessible Ethereum investment product to its clients. His stance mirrors the growing mainstream acceptance of crypto as an alternative asset class, not a replacement for fiat currency. Fink compared it to gold, citing Bitcoin’s fixed supply cap.
Analysts are predicting the debut of an Ethereum ETF this year. The first day US investors could gain exposure to Bitcoin through an ETF was met with anticipation. Multiple analysts predict a strong chance of Ethereum ETF approval in the coming months, with products from various issuers, including VanEck and Ark Invest, under review. Bloomberg ETF analyst Eric Balchunas estimated a 70% probability of such an ETF getting approved in May. Digital asset lawyer Joe Carlasare expressed his view that an Ethereum ETF will likely gain approval this year.
Vignesh Karunanidhi, a seasoned professional in the crypto space since 2017, has been writing for over five years. He specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Vignesh Karunanidhi, Eric Balchunas, Joe Carlasare, Larry Fink |
| Companies | VanEck, Bloomberg, iShares, Ark Invest, BlackRock, CNBC |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
