BlackRock CEO Larry Fink has expressed confidence in the firm’s ability to launch an Ethereum ETF, even if the SEC declares ETH a security. Recent reports suggested that the SEC was considering labeling ETH as a security, which sparked speculation about its impact on pending Ethereum ETF applications. However, Fink remains steadfast in his belief that such a classification would not hinder BlackRock’s plans for an Ethereum-based ETF. BlackRock is just one of several fund managers seeking to introduce this product following the success of Bitcoin ETFs. Fink shared his thoughts on the SEC’s rumored move during an interview with Fox Business, stating that a security designation for ETH would not be detrimental to the prospects of an Ethereum-based ETF. When asked directly if BlackRock could still launch the ETF with ETH classified as a security, Fink responded positively. This is not surprising given that ETFs are allowed to hold securities under US securities regulations. While the implications of a security tag for Ethereum and other projects may pose challenges for the crypto industry, ETFs can still be offered by fund managers if approved by the SEC. However, this designation could require public blockchain foundations to assume responsibilities similar to public companies, such as filing annual financial reports. The crypto industry has strongly opposed this stance, as seen in Ripple’s ongoing case against the SEC. The SEC is expected to announce its decision on spot Ethereum-based ETF applications by May. It is important to note that this article is for informational purposes only and should not be considered financial advice. The views expressed are the author’s own and do not reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.
