BlackRock CEO Larry Fink supports the creation of spot Ethereum (ETH) exchange-traded funds (ETFs).
In a new interview on CNBC’s Squawk Box, Fink say that after spot Bitcoin (BTC) ETFs were just approved by the US Securities and Exchange Commission (SEC), it would be worthwhile for the agency to approve spot ETH ETFs as well.
Fink also believes that tokenization in the financial space could result in a crackdown on corruption, such as money laundering.
“I see the value of having an Ethereum ETF. Like I said, these are just stepping stones to tokenization. And I really believe that this is where we are going. Today we have the technology to tokenize. Think about this, if you had a tokenized security and you have a tokenized identity, you Andrew [Sorkin], the moment you buy or sell an instrument, it is known, it is in a ledger that is all created together. If you want to talk about issues around money laundering and things like that, this eliminates all the corruption by having a tokenized system.”
Fink adds that he believes Bitcoin is a safe store of value, similar to what gold has historically looked like in times of uncertainty.
“I believe in it [Bitcoin] because I believe it is an alternative source for holding wealth. I don’t believe it will ever become a coin. I believe it is an asset class. I think we’re going to create digital currencies. We are going to use the technology for it. We are going to use the blockchain…
I believe [Bitcoin] increases when the world is more afraid, when people fear geopolitical risks, when they fear their own risk. It is no different than what gold represented for thousands of years. It is an asset class that protects you. And unlike gold, where we are producing new gold, we are almost at the ceiling of the amount of Bitcoin that will be created.”
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