Bitcoin fell below the 70,000 mark yesterday, as news broke that a US court had rejected Coinbase’s motion, allowing the SEC to continue its appeal against the custodian and exchange for the Bitcoin spot ETF. However, BlackRock CEO Larry Fink praised Bitcoin’s long-term survival capabilities in an interview yesterday and expressed his determination to proceed with the issuance of an Ethereum spot ETF, even if there are concerns about Ethereum being considered a security.
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Larry Fink of BlackRock remains optimistic about Ethereum spot ETF
Larry Fink is optimistic about the long-term survival capabilities of Bitcoin
Fidelity officially submits S-1 form
According to a tweet by Fox Business reporter Eleanor Terrett, Larry Fink, CEO of BlackRock, was asked about the announcement by the US Securities and Exchange Commission (SEC) that Ethereum is considered a security, which has sparked controversy. How does this affect the issuance of ETF?
Larry Fink cautiously responded, “I really can’t comment on that, but I don’t think this determination would be so harmful.”
However, when asked again by host Gasparino, “Even if it is considered a security, would you still issue an ETH ETF?” Fink gave a positive response, saying, “I think so, yes!”
Fink also mentioned Bitcoin, stating that we are currently creating a market with stronger liquidity and higher transparency, which has pleasantly surprised him as he did not anticipate it before. Therefore, he is very optimistic about the long-term survival capabilities of Bitcoin.
Yesterday, Fidelity also officially submitted its S-1 form for an Ethereum spot ETF, officially joining the competition. According to Bloomberg ETF analyst James Seyffort, there are currently eight issuers who have submitted applications to the SEC, with the earliest approval date falling on May 23. However, Seyffort is not very optimistic about the probability of approval in May.
(Larry Fink, CEO of BlackRock, is optimistic about the future of Ethereum ETF: Moving towards tokenization)
Larry Fink
Ethereum spot ETF
BlackRock
Bitcoin
Coinbase
(Bloomberg: Fidelity revises ETF application, hoping to allow pledging of Ethereum)
Further reading:
Could Hong Kong Overtake? Physical Bitcoin spot ETF may be approved in the second quarter
Bitcoin falls below 70K! SEC can appeal against Coinbase, Bitcoin ETF may be affected