According to the latest reports, it seems that BlackRock CEO Larry Fink sees value in an Ethereum ETF. Check out the latest reports about this below.
BlackRock CEO Larry Fink addresses ETH ETF
Larry Fink, the CEO of BlackRock, has expressed his support for the creation of spot Ethereum (ETH) exchange-traded funds (ETFs).
In a recent interview on CNBC’s Squawk Box, Fink highlighted that the approval of spot Bitcoin (BTC) ETFs by the US Securities and Exchange Commission (SEC) makes it worthwhile for the agency to also approve spot ETH ETFs.
Fink also believes that tokenization in the financial industry could lead to a crackdown on corruption, including money laundering.
“I see value in having an Ethereum ETF. As I said, these are just stepping stones towards tokenization. And I really do believe this is where we’re going to be going. We have the technology to tokenize today. Think about this, if you had a tokenized security and you have a tokenized identity, you Andrew [Sorkin], the moment you buy or sell an instrument, it’s known, it’s on a general ledger that is all created together. You want to talk about issues around money laundering and all that, this eliminates all corruption by having a tokenized system.”
Fink also made sure to highlight the fact that he believes Bitcoin is a safe store of value similar to how gold was historically during times of uncertainty.
“I’m a believer in [Bitcoin] because I do believe it is an alternative source for wealth holding. I don’t believe it’s ever going to be a currency. I believe it’s an asset class. I think we’re going to create digital currencies. We’re going to use the technology for it. We’re going to use the blockchain…
I believe [Bitcoin] goes up if the world is more frightened, if people are fearful of geopolitical risk, if they’re fearful of their own risk. It’s no different than what gold represented over thousands of years. It is an asset class that protects you. And unlike gold, where we manufacture new gold, we’re almost at the ceiling of the amount of Bitcoin that will be created.”