Contents
- BlackRock’s Ethereum ETF filing
- Beyond crypto
Larry Fink, CEO of BlackRock, has recently expressed keen interest in the possibilities of Ethereum-based Exchange Traded Funds (ETFs), hinting at another strategic move toward embracing blockchain technology, in a recent interview with CNBC.
“I see value in having an Ethereum ETF. As I’ve said, these are just ‘stepping stones’ towards tokenization. And I do believe that this is where we are going. We have the technology to tokenize today…This eliminates all corruption by having a tokenized system,” stated Fink in a recent interview.
This approach aligns with BlackRock’s broader strategy of innovating in the financial sector through technology.
BlackRock’s Ethereum ETF filing
In late 2023, BlackRock took a significant step toward this vision by submitting an S-1 application to the SEC for its spot Ethereum ETF.
This move underscores BlackRock’s commitment to integrating more digital assets into its vast array of financial offerings.
Bloomberg analysts have predicted a 70% chance of the Ethereum spot ETF being approved by May.
As reported by U.Today, Steve McClurg, cofounder and chief investment officer at Valkyrie Funds, in his interview with Bloomberg, suggested that the approval of a Bitcoin ETF could pave the way for similar products based on other cryptocurrencies, like Ethereum and XRP.
Beyond crypto
In addition to its foray into digital assets, BlackRock, under Fink’s leadership, has also been focusing on private market infrastructure, a sector they view as increasingly vital.
The company’s acquisition of Global Infrastructure Partners for $12.5 billion is a testament to this focus.
In his interview, Fink discussed the importance of co-investing with companies and governments in infrastructure projects.
He stressed the need for recalibrating power grids and focusing on energy independence and decarbonization.
Fink considers these infrastructure investments as long-term trends that will significantly influence how markets evolve, emphasizing their potential for growth and impact.