BlackRock's Larry Fink bullish on Bitcoin ecosystem, will issue Ethereum spot ETF even if ETH is deemed a security

Yesterday, Bitcoin fell below the $70,000 mark amid reports of a U.S. court rejecting Coinbase's motion, allowing the SEC to continue its appeal against the custodian of the Bitcoin spot ETF and the exchange Coinbase. However, BlackRock CEO Larry Fink praised Bitcoin's long-term survivability in an interview yesterday and expressed plans to proceed with the launch of an Ethereum spot ETF, despite concerns that Ether may be considered a security.

Bitcoin Falls Below 70K! SEC Can Appeal Against Coinbase, Bitcoin ETF May Be Affected

BlackRock's Larry Fink Still Bullish on Ethereum Spot ETF

According to a tweet by Fox Business reporter Eleanor Terrett, BlackRock CEO Larry Fink was asked during an interview:

"The announcement by the U.S. Securities and Exchange Commission that Ethereum is considered a security has sparked a lot of controversy. How does this affect the issuance of an ETF?"

Larry Fink responded cautiously:

"I really can't comment on that, but I don't think this classification will be that harmful."

However, host Gasparino pressed further, asking: "Even if it is considered a security, would you still issue an ETH ETF?"

Fink gave a positive response: "I think so, yes!"

🚨NEW: Larry Fink on $ETH spot ETF: @CGasparino: There's a lot of noise about the SEC declaring ether a security which would take it out of the bitcoin category as a commodity. How does that translate into an ETF?

Fink: “I don’t think – look and I really can’t talk about this… https://t.co/si9ZiM6z30 pic.twitter.com/SVFcGvwRRg

— Eleanor Terrett (@EleanorTerrett) March 27, 2024

BlackRock CEO Larry Fink Bullish on Ethereum ETF: Towards a Tokenized Future

Larry Fink Bullish on Bitcoin's Long-term Survival

Fink also mentioned Bitcoin, stating that we are now creating a market with greater liquidity and transparency, which surprises him as he had not anticipated this before. Therefore, he is very optimistic about Bitcoin's long-term survival.

Fidelity Officially Submits S-1 Form

Yesterday, Fidelity officially submitted its S-1 form for an Ethereum spot ETF, officially joining the competition! According to Bloomberg ETF analyst James Seyffort, currently, eight issuers have applied to the SEC, with the earliest approval date being 5/23. However, Seyffort is not so optimistic about the probability of approval in May.

Wall Street Betting on ETH? Fidelity Amends ETF Application, Hoping to Allow Ethereum Collateral