Fresh off the long-awaited launch of U.S. Bitcoin exchange-traded funds (ETFs), BlackRock CEO Larry Fink revealed openness to a similar product for Ethereum">Ethereum‘s ether token. One day after BlackRock’s own iShares Bitcoin Trust ETF went live, Fink backed an ether ETF.
His comments build on growing openness around crypto as an asset class from the head of the world’s largest asset manager. BlackRock diving into both Bitcoin and hypothesized ether ETFs flows from Fink’s view that tokenization via blockchain brings major advantages.
By representing real or digital assets on blockchains, issues like money laundering may lessen according to Fink. He also noted characteristics like Bitcoin’s capped supply that prevents inflation making it attractive as a non-sovereign store of value.
Regulatory approval remains a roadblock for any Ethereum ETF, but Fink’s stance underscores Wall Street titans increasingly embracing blockchain’s investment possibilities. As decentralization innovations progress, legacy leaders like BlackRock seem poised to drive that adoption further.
With Bitcoin ETFs now a reality, Fink’s nod to Ethereum keeps open doors for better mainstream access to its native asset and decentralized apps ecosystem. BlackRock wading deeper into crypto promises growing incorporation ahead as the technology matures.
