{"id":496185,"date":"2024-03-28T12:26:05","date_gmt":"2024-03-28T12:26:05","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=496185"},"modified":"2024-03-28T12:26:05","modified_gmt":"2024-03-28T12:26:05","slug":"blackrock-ceo-larry-fink-says-an-ethereum-etf-is-possible-even-if-eth-is-a-security-very-bullish-on-bitcoin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/blackrock-ceo-larry-fink-says-an-ethereum-etf-is-possible-even-if-eth-is-a-security-very-bullish-on-bitcoin","title":{"rendered":"BlackRock CEO Larry Fink Says An Ethereum ETF Is Possible Even If ETH Is A Security, ”Very Bullish” On Bitcoin"},"content":{"rendered":"

BlackRock CEO Larry Fink said an Ethereum ETF (exchange-traded fund) can gain regulatory approval even if it is classified as a security, and added that he is “very bullish” on Bitcoin in the long term.<\/span><\/p>\n

When asked in a Mar. 27 Fox Business interview if <\/span>BlackRock<\/span><\/a> could still list an ETF product based on ETH even if it is deemed a security by the Securities and Exchange Commission (SEC), Fink replied, “I think so.” \"BlackRock<\/span><\/p>\n

Ethereum ETF Applications Face Rejection As SEC Fails To Classify ETH<\/span><\/h2>\n

The SEC has yet to clarify whether the largest altcoin by market cap is a security or a commodity. Congress is <\/span>pressuring the SEC<\/span><\/a> to clarify its status as securities platform Prometheum plans to launch an ETH custody service. <\/span><\/p>\n

The SEC is <\/span>reportedly<\/span><\/a> aiming to classify ETH as a security and has sent <\/span>subpoenas<\/span><\/a> to several companies as part of its inquiry into the matter. This potential classification has raised concerns of whether it would even be possible to launch an <\/span>ETH ETF<\/span><\/a> in the US with Bloomberg Intelligence putting the chances of approval by a May deadline at just 25%.<\/span><\/p>\n

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Re Eth ETF approval, we are holding the line at 25% odds altho tbh it is a very pessimistic 25%. The lack of engagement seems to be purposeful vs procrastination. No positive signs\/intel anywhere you look. Personally hope they do approve it but it just ain't looking good. https:\/\/t.co\/nuBdCDE18L<\/a><\/p>\n

— Eric Balchunas (@EricBalchunas) March 25, 2024<\/a><\/p><\/blockquote>\n