BlackRock chief executive Larry Fink believes approval of spot Ethereum (ETH) exchange-traded funds (ETFs) could still occur even if the top altcoin is deemed a security.
In a new interview on FOX Business, Fink says that the chances of approval for pending applications to launch spot ETH ETFs would not be adversely impacted if the U.S. Securities and Exchange Commission (SEC) designates Ethereum as a security.
“I don’t think that [security] designation is going to be that deleterious.”
BlackRock is among several companies with pending applications before the SEC to launch a spot ETH ETF following the successful launch of spot Bitcoin (BTC) ETFs in January.
The SEC considers Bitcoin a commodity, not a security. Gary Gensler, SEC chair, has not said whether he believes ETH is a security, but he has suggested many digital assets besides Bitcoin could be deemed securities.
The SEC is reportedly moving to designate ETH as a security. Meanwhile, the U.S. Commodity Future
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