BlackRock CEO Larry Fink Highlights Potential Value of Ethereum ETF

• BlackRock CEO Larry Fink Reveals Interest in Ethereum (ETH) ETF
• BlackRock's Consideration of an Ethereum ETF
• Will the SEC Approve an Ethereum Spot ETF?
• Prospects for Ethereum ETF Approval
• Digital Asset Lawyer Joe Carlasare's Opinion
• Potential Impact of an Ethereum ETF

BlackRock CEO Larry Fink Reveals Interest in Ethereum (ETH) ETF

In an interview with CNBC, CEO of BlackRock Larry Fink showed his interest in launching an Ethereum$2,315 -2.42% (ETH) ETF. This news follows the approval of 11 Bitcoin$42,260 -0.64% (BTC) spot ETFs by the US Securities and Exchange Commission (SEC). The demand for cryptocurrency spot ETFs has been growing among US investors.

BlackRock's Consideration of an Ethereum ETF

Will the SEC Approve an Ethereum Spot ETF?

The SEC's final response regarding VanEck's Ethereum spot ETF application is expected by May 23, 2024. As for BlackRock, the verdict on their application is due by Aug. 7, 2024.

Prospects for Ethereum ETF Approval

Eric Balchunas, an ETF analyst at Bloomberg, estimates a 70% chance of the SEC approving an Ethereum ETF by May 2024. According to him, the fate of the Ethereum spot is closely linked to that of Bitcoin. Despite his earlier reservations about a Bitcoin ETF, Balchunas now holds an optimistic outlook towards an Ethereum ETF.

Digital Asset Lawyer Joe Carlasare's Opinion

Joe Carlasare, a digital asset lawyer, also expects the SEC to greenlight an Ethereum spot ETF, albeit potentially later than projected.

Potential Impact of an Ethereum ETF

Approval for an Ethereum spot ETF could generate significant institutional investment in the second-largest cryptocurrency. Following the approval of a Bitcoin spot ETF, an Ethereum version could potentially trigger a new surge in the crypto market. It is also important to note that the SEC may delay its decision for technical reasons.

Edited by Jonathan Stoker