Larry Fink, CEO of BlackRock, Expresses Support for Ethereum ETF

The CEO of BlackRock, Larry Fink, has expressed support for the idea of an exchange-traded fund (ETF) for ether (ETH), the native token of the Ethereum blockchain. This comes a day after the launch of the highly anticipated bitcoin (BTC) ETF. In an interview with CNBC, Fink stated, “I see value in having an Ethereum ETF. These are just stepping stones towards tokenization, and I really do believe this is where we’re going to be going.”

BlackRock’s iShares Bitcoin Trust (IBIT) recently debuted for trading in the U.S. following approval from the Securities and Exchange Commission (SEC). IBIT contributed approximately $1 billion to the total $4.6 billion trading volume collectively seen by the ETFs.

The asset management giant is now considering introducing a similar product for Ethereum’s native token as part of its ongoing journey toward tokenization. Tokenization involves representing assets, whether real-world or digital, in the form of tokens on the blockchain. Fink believes that tokenization can address issues related to money laundering and corruption.

Fink clarified his perspective on cryptocurrency, stating that he views it as an asset class rather than a currency. He specifically referred to bitcoin as “an asset class that protects you” against concerns related to geopolitical risk. He drew a parallel between bitcoin and gold, noting that, unlike gold, there is a finite amount of bitcoin that can be created, suggesting a potential value proposition.