BlackRock: The Emergence of Ethereum ETFs is an Important Step in The Development of Cryptocurrencies

The head of BlackRock Larry Fink said that the appearance of ETFs on Ethereum is an important step in the development of cryptocurrencies. In an interview with CNBC, he said that he considers cryptocurrencies to be an asset class rather than currencies.

"I see the benefit of creating an Ethereum ETF. It will increase liquidity and transparency in the cryptocurrency market," Fink said.

Fink also said he sees multi-asset ETFs as the first stage of a technological revolution. It will be followed, he said, by the tokenization of all types of financial assets.

The approval of 11 spot bitcoin ETFs sparked investor optimism about the potential approval of Ethereum ETFs. Against this backdrop, there was a sharp rise in the exchange rate of the leading altcoin. As of 16:40 Moscow time, ETH is trading around $2.67 thousand, up 18.3% over the week, according to CoinGecko.