February 27, 2024

Brighton Journal

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BlackRock CEO Larry Fink sees value in the ETF

BlackRock CEO Larry Fink sees value in the ETF

Larry Fink said today that the industry is taking steps toward tokenization.

BlackRock CEO Larry Fink He said Today on CNBC, he sees value in having an exchange-traded fund (ETF), fueling speculation that a spot ETH ETF will be traded next after the record launch of spot Bitcoin ETFs.

“I see value in having an Ethereum ETF,” Fink said in an interview on Friday.

Traders expect that spot ETFs holding other cryptocurrencies will follow the approval of the spot Bitcoin ETF. More than 58% of bets Developed Polymarket supports Ethereum ETF approval by end of May.

Several large asset managers have applied for ETH exchange-traded products. These companies include BlackRock, Van Eck, Ark Invest & 21Shares, Fidelity, and Galaxy Research. Van Eck will be the first to receive a response from the SEC, with a deadline set for May 23. BlackRock's deadline is early August.