Ethereum: BlackRock CEO Larry Fink Sees Value in ETH ETF
While speaking to CNBC, BlackRock CEO Larry Fink said he sees value in having a spot Ethereum (ETH) ETF (Exchange Traded Fund). Fink’s comments come on the heels of 11 spot Bitcoin (BTC) ETFs (Exchange Traded Funds) being approved by the US SEC (Securities and Exchange Commission). US investors have long asked for spot ETFs for the cryptocurrency space.
BlackRock, the world’s largest asset manager, has already applied for a spot ETH ETF. Other firms that have submitted applications include VanEck, 21Shares & ARK, Grayscale, etc..
Will the SEC approve a spot Ethereum ETF?
The SEC’s final deadline for a decision on VanEck’s spot ETH ETF application is May 23, 2024. The final deadline for BlackRock’s application, on the other hand, is on Aug. 7, 2024.
According to Bloomberg ETF analyst Eric Balchunas, there is a 70% chance that the SEC will approve an Ethereum (ETH) ETF by May 2024. According to the analyst, ‘ The Ether spot is tied to the hip of [the] Bitcoin spot for sure. It ’ s gonna go wherever it goes. It ’ s essentially on a 15-foot rope following it. ‘
Balchunas was previously cautious about a spot Bitcoin (BTC) ETF. However, the analyst has since changed his stance. Balchunas is optimistic about an Ethereum (ETH) ETF and has a high approval chance.
On the other hand, digital asset lawyer Joe Carlasare believes a spot ETH ETF will receive approval from the SEC, but it may take longer than expected.
Read More: https://watcher.guru/news/ethereum-blackrock-ceo-larry-fink-sees-value-in-eth-etf
While speaking to CNBC, BlackRock CEO Larry Fink said he sees value in having a spot Ethereum (ETH) ETF (Exchange Traded Fund). Fink’s comments come on the heels of 11 spot Bitcoin (BTC) ETFs (Exchange Traded Funds) being approved by the US SEC (Securities and Exchange Commission). US investors have long asked for spot ETFs for the cryptocurrency space.
BlackRock, the world’s largest asset manager, has already applied for a spot ETH ETF. Other firms that have submitted applications include VanEck, 21Shares & ARK, Grayscale, etc..
Will the SEC approve a spot Ethereum ETF?
The SEC’s final deadline for a decision on VanEck’s spot ETH ETF application is May 23, 2024. The final deadline for BlackRock’s application, on the other hand, is on Aug. 7, 2024.
According to Bloomberg ETF analyst Eric Balchunas, there is a 70% chance that the SEC will approve an Ethereum (ETH) ETF by May 2024. According to the analyst, ‘ The Ether spot is tied to the hip of [the] Bitcoin spot for sure. It ’ s gonna go wherever it goes. It ’ s essentially on a 15-foot rope following it. ‘
Balchunas was previously cautious about a spot Bitcoin (BTC) ETF. However, the analyst has since changed his stance. Balchunas is optimistic about an Ethereum (ETH) ETF and has a high approval chance.
On the other hand, digital asset lawyer Joe Carlasare believes a spot ETH ETF will receive approval from the SEC, but it may take longer than expected.
Read More: https://watcher.guru/news/ethereum-blackrock-ceo-larry-fink-sees-value-in-eth-etf
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