Blackrock CEO Larry Fink is optimistic about the viability of an Ethereum ETF, despite its security designation. Speaking with Fox Business, he confirmed BlackRock's commitment, since their November ETF filing. Fink's optimistic outlook matches his previous confidence about Ethereum's ETF potential.
Industry experts are questioning the SEC's reluctance to classify ETH. This classification could change the market dynamics of ETH, the second most significant crypto by market capitalization. It might mean new laws and a shake-up for stakeholders such as CME Group and Cboe Global, which trade large amounts of ETH futures.
Industry commentators, such as Bloomberg's Eric Balchunas, estimate the Ethereum ETF's odds of acceptance at 25%. Eleanor Terrett of Fox Business highlights the SEC's hesitant approach, which contrasts with its involvement in bitcoin ETFs.
Grayscale's legal chief advocates for parity in the treatment of Bitcoin and Ethereum ETFs, citing previously handled BTC fund concerns as precedent.
Fink's positive perspective is not purely theoretical. BlackRock's bitcoin spot ETF, IBIT, which has been trading since January, has broken records, earning a startling $10B market value shortly after its introduction and currently boasting $16B in assets.
This ETF not only captures retail demand but also accounts for more than 40% of total bitcoin ETF trading volume, demonstrating the fund's outstanding growth trajectory. Whether ETH ETFs will be approved is still unknown.
