CEO of BlackRock Larry Fink Supports Ether ETF

As part of its long path toward tokenization, the massive asset management company might now be trying to offer a product that is comparable to ether, the native token of the Ethereum blockchain.
A day after the highly anticipated bitcoin (BTC) exchange-traded fund (ETF) became live, BlackRock CEO Larry Fink supported the idea of an ether (ETH) ETF. "I see merit in having an Ethereum ETF,” Fink remarked in an interview with CNBC on Friday. "These are just stepping stones towards tokenization and I really do believe this is where we're going to be going." BlackRock’s iShares Bitcoin Trust (IBIT) was one of the few such products to make its trading debut in the U.S. on Thursday after the Securities and Exchange Commission's (SEC) approved the funds on Wednesday. Roughly $1 billion of the $4.6 billion in trading volume that the ETFs experienced overall came from IBIT.


As part of its long journey toward tokenization, the massive asset management company might now be trying to offer a product that is comparable to the Ethereum blockchain's native token. The process of representing assets—digital or real—into tokens on a blockchain is known as tokenization. Fink thinks tokenization can resolve issues with corruption and money laundering. Additionally, Fink stated that he did not view cryptocurrencies as a form of money but rather as an asset class, citing bitcoin in particular as "an asset class that protects you" against concerns about geopolitical risk.