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BlackRock CEO Larry Fink said an ethereum ETF can gain regulatory approval even if it is classified as a security, adding that he is “very bullish” on bitcoin in the long term.
When asked in a March 27 Fox Business interview if Black Rock It could still include an eth-based ETF product even if the Securities and Exchange Commission (SEC) considers it a security, Fink responded: “I think so.” 
ethereum ETF Applications Face Rejection as SEC Fails to Classify eth
The SEC has yet to clarify whether the largest altcoin by market capitalization is a security or a commodity. Congress is putting pressure on the SEC To clarify its status as a securities platform, Prometheum plans to launch an eth custody service.
The SEC is crypto/2024/03/20/sec-gary-gensler-ethereum-security-commodity-crypto-foundation/”>reportedly with the aim of classifying eth as a security and has sent citations to several companies as part of its investigation into the matter. This possible classification has raised concerns about whether it would be possible to launch a ETF ETF In the United States, Bloomberg Intelligence puts the chances of approval before the May deadline at just 25%.
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Regarding the approval of the eth ETF, we are holding the line with a 25% probability, although to be honest, it is a very pessimistic 25%. The lack of commitment appears to be intentional versus procrastination. There are no positive signs or information anywhere you look. Personally I hope they approve it, but it doesn't look good. https://t.co/nuBdCDE18L
– Eric Balchunas (@EricBalchunas) twitter.com/EricBalchunas/status/1772372601098162624?ref_src=twsrc%5Etfw”>March 25, 2024
BlackRock is one of eight issuers that have petitioned the SEC to launch eth ETFs.
BlackRock CEO is bullish on bitcoin
As the crypto community awaits the regulator's decision, BlackRock's bitcoin ETF (IBIT) has outperformed the 10 other funds that began trading in the US on January 11. Since its launch, IBIT has raised more than $15 billion in assets under management, and is the “fastest-growing ETF in the history of ETFs,” Fink said in the Fox Business interview.
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JUST IN: BlackRock CEO Larry Fink says his place twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF “is the fastest growing ETF in the history of ETFs.” pic.twitter.com/J6g7XrYWCU
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1773067179677630782?ref_src=twsrc%5Etfw”>March 27, 2024
“I am very optimistic about the long-term viability of bitcoin,” Fink said. “I am pleasantly surprised and would never have predicted before applying (IBIT application) that we would see this type of retail demand.”
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