Summary
BlackRock CEO Larry Fink has expressed support for the approval of an Ethereum exchange-traded fund (ETF), saying that tokenization is the future and that the technology is available now. Fink’s comments come as BlackRock focuses more on cryptocurrencies, first with Bitcoin and now turning its attention to Ethereum. The market has reacted positively to the news, with altcoins rallying and Bitcoin’s dominance decreasing. Fink did not comment further on the possibility of an Ethereum ETF approval by the SEC. Overall, increased interest in Ethereum could lead to higher demand and value for ETH.
Key Points
1) Larry Fink, CEO of BlackRock Inc., is focusing on cryptocurrencies, particularly Bitcoin and Ethereum.
2) Fink believes that an Ethereum spot ETF approval is likely to happen, as he sees value in tokenization and believes it will eliminate corruption.
3) BlackRock’s new focus on Ethereum aligns with their infrastructure investment strategy, as Ethereum is the leading Web3 infrastructure in the crypto realm.
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