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During a CNBC interview, BlackRock CEO Larry Fink expressed his belief in the value of introducing a spot Ethereum (ETH) ETF. Fink’s remarks follow the recent approval of 11 spot Bitcoin (BTC) ETFs by the US Securities and Exchange Commission (SEC), addressing a long-standing demand from US investors for ETFs in the cryptocurrency space.

 

 

 

As the world’s largest asset manager, BlackRock has already submitted an application for a spot ETH ETF, joining other firms like VanEck, 21Shares, ARK, and Grayscale, which have also pursued similar endeavors.

 

 

 

The potential approval of a spot Ethereum ETF holds the promise of attracting substantial institutional funding to the second-largest cryptocurrency. With a spot BTC ETF already given the green light, the introduction of a spot ETH ETF could potentially trigger a new bullish trend in the crypto market. However, it’s worth noting that there exists a chance of the SEC delaying its decision for technical reasons.

 

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