Larry Fink said today that the industry is taking steps towards tokenization. <\/p>\n
BlackRock CEO Larry Fink said<\/a> today on CNBC that he sees value in having an Ethereum exchange-traded fund (ETF), fueling speculation a spot ETH ETF will trade next after the record-breaking launch of spot Bitcoin ETFs.<\/p>\n \u201cI see value in having an Ethereum ETF,\u201d Fink said in an interview Friday.<\/p>\n Traders are speculating that spot ETFs holding other cryptocurrencies will follow the approval of a spot Bitcoin<\/a> ETF. More than 58% of bets placed<\/a> on Polymarket are in favor of an Ethereum<\/a> ETF approval by the end of May.<\/p>\n Several large asset managers have filed for ETH exchange-traded products. These include BlackRock, Van Eck, Ark Invest & 21Shares, Fidelity, and Galaxy Research. Van Eck will be the earliest to receive a reply from the SEC, with a deadline set for May 23. BlackRock\u2019s deadline is set for early August.<\/p>\n <\/p>\n Fink\u2019s comments come after the spot Bitcoin ETFs had record-<\/a>breaking volumes on their first day of trading.<\/p>\n After a sleepy 2023, Ethereum has gotten off to an auspicious 2024, rallying 13% in the past two weeks, compared with Bitcoin\u2019s 3.7% increase over the same timeframe. According to Coingecko<\/a>, ETH trades for $2,967, a 2% jump on the day.<\/p>\n Fink said he believes all securities will be tokenized.<\/p>\n \u201cThese are just stepping stones towards tokenization,\u201d he said, adding that the technology to tokenize everything already exists.<\/p>\n