If ETH is listed in securities, Ethereum spot ETFs will still be issued! Surprised by Bitcoin’s rise

The U.S. Securities and Exchange Commission (SEC) has recently reported that it is preparing to classify Ethereum as a security. The SEC has subpoenaed several American companies and asked them to provide relevant information on their dealings with the Ethereum Foundation. According to the filing, market concerns may derail the Ethereum listing plan and affect the listing process of cryptocurrency ETFs.

According to an exclusive interview with Fox Business, BlackRock CEO Larry Fink said on Wednesday that even if the SEC classified Ethereum as a security, he did not think it would cause much damage. When asked by the host whether BlackRock would still launch an Ethereum spot ETF if Ethereum was considered a security, Fink responded: "I think so."

Currently including BlackRock There are 8 issuers in the Ethereum spot ETF that have submitted an Ethereum spot ETF application to the SEC (the SEC has postponed it multiple times in the past few months). May 23 will be an important date for whether the Ethereum spot ETF can pass, because this is the VanEck application. The final approval period is expected, but industry experts predict that the chance of approval by then is not high.

Very Surprised by Bitcoin’s Rise

In addition, Larry Fink also said that he was pleasantly surprised by the response from retail investors after BlackRock issued the spot Bitcoin ETF. He is very optimistic about Bitcoin. Long-term storage capacity: We never expected before submitting the application that there would be this level of retail demand, and I am surprised by the increase in Bitcoin... We are creating a market with more liquidity and better transparency.

According to reports, BlackRock’s IBIT assets under management have reached $17.1 billion, accounting for more than 40% of the average daily trading volume of all Bitcoin spot ETFs. According to Grayscale’s GBTC asset management model, which has quickly fallen to $2.3 billion, IBIT seems to be about to replace GBTC and become the largest Bitcoin spot ETF. Larry Fink also said that IBIT is one of the fastest growing ETFs in the history of ETFs.

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