Ethereum ETF on the Horizon as BlackRock CEO Larry Fink Sees Value in Tokenization
BlackRock, the asset management giant, is considering the listing of an Ethereum (ETH) exchange-traded fund (ETF) following the launch of its much-anticipated Bitcoin (BTC) ETF.
Larry Fink, BlackRock’s CEO, expressed support for an Ethereum ETF, viewing it as a valuable step towards the broader trend of tokenization. Fink emphasized the significance of tokenization in addressing issues like money laundering and corruption. The iShares Bitcoin Trust (IBIT), a product of BlackRock, made its trading debut in the U.S. after receiving approval from the Securities and Exchange Commission (SEC).
With IBIT contributing approximately $1 billion to the total $4.6 billion trading volume collectively seen by the ETFs, BlackRock now appears poised to extend its tokenization journey to include Ethereum. Fink clarified his perspective on cryptocurrency, considering it an asset class rather than a currency, citing bitcoin as a protective asset against geopolitical risks.
Clever Robot News Desk 17th January 2024
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