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BlackRock CEO Stays Positive for ETH ETF Despite SEC Labeling It as a Security

BlackRock CEO says that there is still a possibility of an exchange-traded fund of ETH even if the United States Securities and Exchange Commission labels ETH as a security.

ShahZaib Ahmed

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BlackRock CEO Stays Positive for ETH ETF Despite SEC Labeling It as a Security

Larry Fink, the chief executive officer of BlackRock, has recently expressed a bullish sentiment about Bitcoin’s long-term viability. As per the executive, there is still a possibility of an exchange-traded fund of ETH even if the United States Securities and Exchange Commission labels ETH as a security. On Wednesday, he appeared in an interview that Foxx Business conducted and discussed the latest iShares Bitcoin Trust.

ETH ETFs Can Still Get Approval, Says BlackRock CEO

The executive pointed toward the significant inflows of the project that trades under IBIT. In addition to this, he disclosed his bullishness on BTC’s long-term viability. According to him, they are establishing a market possessing more transparency and liquidity. He said that this comes as a pleasant surprise with IBIT’s filing. He also talked about ETH ETFs as well as the SEC’s reaction to this.

Also Read: Fidelity Once Again Files for Spot Bitcoin ETF Following BlackRock’s Filing

He claimed that the ETH ETF still has the possibility. Although the present status of ETH is that of a security, this could see a rapid change. According to the reports, several U.S.-based firms have obtained subpoenas trying to categorize ETH among securities.

In line with the general perceptions, Ethereum operates as a decentralized crypto asset. Nonetheless, the SEC and other such regulators continue to oversee the crypto world.

SEC’s Reclassification of ETH as a Security Can Terminate All ETF Applications

They may offer more guidance as well as an abrupt change or exclusive rulings regarding this in the future. In this way, staying up to date about the latest developments is very necessary.

As per Hector McNeil, the co-CEO of NANetf, the SEC’s review of ETH is a method to procrastinate its verdict to authorize ETH ETFs. If the regulator maintains ETH’s status as a security, any applications regarding ETH ETFs would get terminated, said CEC Capital’s head Laurent Kssis.

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