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BlackRock’s Larry Fink remains optimistic about the possibility of asset managers listing Ether ETFs, even if the SEC considers the assets to be securities.
Posted on March 28, 2024 at 3:30 AM EST.
BlackRock, the world’s largest asset manager, is off to a strong start with both its Spot Bitcoin exchange-traded fund (ETF), which began trading on January 11, and its newer Ethereum-based tokenized fund. Cutting. First deposit since launch last week.
BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), currently has $17 billion Based on total assets under management and current inflow rate into the fund, it is on track to surpass Grayscale Investments’ flagship Bitcoin fund-turned-ETF, Grayscale Bitcoin Trust (GBTC), in terms of total Bitcoin holdings. be.
Meanwhile, the BlackRock USD Institutional Digital Liquidity Fund, launched last Wednesday, minted approximately $245 million of BUIDL tokens in one week under the ticker “BUIDL.” According to Etherscan blockchain data. The fund provides holders with exposure to tokenized U.S. Treasuries and repurchase agreements, providing yield from the underlying assets.
The company has also applied to list a Spot Ethereum ETF, subject to U.S. Securities and Exchange Commission (SEC) approval, and CEO Larry Fink said he is optimistic about the prospects for approval. It seems like he’s watching. lowered Predictions from market participants, including Bloomberg ETF analyst Eric Balchunas.
In an interview with Fox Business on Wednesday, Fink was asked if BlackRock could still list Ether-based ETFs if the SEC deemed them securities, to which he replied, “I think so.” Ta.
The CEO also added: “We do not believe the designation will be harmful.”
found the clip
BlackRock’s Larry Fink says it doesn’t matter $ETH Labeled by the SEC, ETFs can go either way pic.twitter.com/Hj7NrHjf6b
— Chris Kay | 🦇🔊🍩 DeFi Donut (@thekriskay) March 27, 2024
last week’s fortune report The SEC began its investigation shortly after the Ethereum Foundation blockchain transitioned to a proof-of-stake consensus model.
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