BlackRock CEO's Bitcoin and Ethereum Statement: It Doesn't Matter If It's a Security! - Coin Newsletter

Larry Fink, CEO of BlackRock, the world's largest asset manager, commented on the Ethereum ETF while expressing surprise at the rise in Bitcoin.

Larry Fink spoke to Charlie Gasparino and Liz Claman of Fox Business on Wednesday, March 27.

In a statement, he stated that they did not expect such a demand for BlackRock's iShares Bitcoin Trust (IBIT) ETF and that both this demand and the rise in Bitcoin surprised him.

However, he is very optimistic about Bitcoin's long-term sustainability, Fink said, emphasizing that the market is becoming more transparent and liquid:

We could never have predicted that we would see this kind of retail demand before we applied. I'm surprised that Bitcoin has risen so much... We are now creating a market with more liquidity, more transparency. I am optimistic about long-term sustainability.

BlackRock has been the institution that has hosted the highest money inflows since the spot Bitcoin ETF approval, and has collected $16 billion in assets in about 2 months.

Ethereum ETF possible

Larry Fink, who also touched on the spot Ethereum ETF process in his speech, said that at the end of the day, even if Ethereum is defined as a security, it can get ETF approval from the SEC.

Fink, who sees this approval as almost certain and hints that the process may take longer at most**, stated that he thinks the listing is coming.

In the past period, the SEC's definition of Ethereum as a security, and on the contrary, the US Commodity Futures Trading Commission (CFTC) defined it as a commodity, causing confusion.

BlackRock already has an application for a spot Ethereum issuance.