Advertisement
BlackRock CEO Larry Fink Says Ethereum ETFs Feasible Regardless of Security Status, Remains Bullish on BTC
- Larry Fink believes Ethereum ETFs could work even if ETH is deemed a security, challenging conventional wisdom.
- Fink remains bullish on Bitcoin, citing the rapid growth of BlackRock’s IIBIT as the fastest growing ETF in history.
- Despite typical advice, Fink reveals he’s 100% invested in equities at age 71, demonstrating his strong belief in the market’s potential.
We know that BlackRock CEO Larry Fink is generally positive about markets and stocks, and more recently this is also true for Bitcoin. But what about Ethereum? Asked by Charlie Gasparino on Fox Business about the applications for Spot Ethereum ETFs, Fink said he wasn’t in the position to comment.
Related: Judge Sides With SEC, Advancing Case Against Coinbase in Setback for Crypto Industry
But, pressed on the recent discussions about Ethereum potentially being a security, Fink said he doesn’t believe this to “be that deteriorous [sic].”
Gasparino answered: “So even if it’s a security, you can start an ETH ETF?”
Which Fink, without giving reasons countered with: “I think so, yes.”
The Fox Business reporter was surprised by that response—but in reality, ETFs often contain various types of investments, like securities such as stocks and bonds. The key point here is that the regulatory classification of an asset as a “security” does not preclude its inclusion in an ETF per se.
Hence, if Ethereum were classified as a security, it would not automatically disqualify it from being included in an ETF. Instead, the structure and operation of the ETF would need to adhere to the regulatory frameworks that apply to securities.
Fink Remains Bullish on Bitcoin
The other topic at the tip of the tongue of hosts Gasparino and Liz Claman was of course Bitcoin and the Spot ETFs. These ETFs, approved only less than three months ago, are among the fastest growing ETFs in history. In fact, IIBIT, which is BlackRock’s Spot Bitcoin ETF, is the fastest growing ETF ever, according to Fink himself.
“IIBIT is the fastest growing ETF in the history of ETFs, nothing has gained assets as fast as IIBIT in the history of ETFs.”
Larry Fink, BlackRock CEO So naturally Fink, who is overall bullish on the markets is very bullish on Bitcoin.
Look, I’m very bullish on the long-term viability of Bitcoin. That surprised me how much that’s gone up. I mean, look, we’re creating now a market that has more liquidity, more transparency—and I’m pleasantly surprised.
Larry Fink, BlackRock CEO News Flash: Larry Fink is 100% in Equities At 71
Towards the end of the segment Fink’s own allocation in the markets came up. Despite BlackRock’s (non-financial advice) advice to ease out of equities as one gets older and only hold 40% of equities in a portfolio close to retirement, Fink made the astonishing revelation that he himself is still 100% in equities.
Fink said he is a strong believer in capitalism and that humans work hard on improving things—and of course in the effects of compounding.
Focusing on the compounding, believing in having hope that the future is better than today. And that has been my whole notion that we as human beings, we solve solutions [sic]. We make things better over time.
Larry Fink, BlackRock CEO Gasparino couldn’t believe it when Fink revealed he is 100% in on equities at his age, jokingly saying that it makes for a great headline.
Related: Hong Kong To Debut BTC ETF, London To List BTC And ETH ETNs
So that’s a headline. Larry Fink is 100% in equities at 71.
Charlie Gasparino, Fox Business This is of course not investment advice.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
