Larry Fink, CEO of BlackRock, a global asset management powerhouse, reassures that even if Ethereum (ETH) were deemed a security, it wouldn’t obstruct the launch of a spot ETF tied to the cryptocurrency.

During an interview with Fox Business, Fink was queried about the possibility of an ETH ETF, to which he responded affirmatively: “I think so.” Notably, BlackRock submitted its ETF approval application in November last year.

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This isn’t the first instance of Fink advocating for Ethereum ETFs. Earlier this year, he expressed support for the notion, stating that he saw “value in there being an Ethereum ETF.”

Fink’s stance emerges amidst speculations from experts regarding the likelihood of approval for ETH-based funds. Much of the discussion revolves around the lack of clarity from the United States Securities and Exchange Commission (SEC) regarding Ethereum’s classification. Reports suggest the SEC has initiated legal proceedings to classify the cryptocurrency as a security.

Should the SEC’s decision lean in this direction, it would undoubtedly impact ETH’s performance and the broader market. Ethereum, being the second-largest cryptocurrency by market capitalization after Bitcoin, could face significant changes and regulatory hurdles, a development deemed unfavorable by many within the ecosystem.

Eric Balchunas, an ETF specialist at Bloomberg Intelligence, estimates the approval probability at 25%, while Fox Business journalist Eleanor Terrett notes the SEC’s comparative lack of involvement compared to its handling of Bitcoin ETFs.

Contrarily, Grayscale’s legal director believes in the inevitability of ETH ETF approvals, likening them to the resolution of issues surrounding Bitcoin funds. According to him, Bitcoin spot ETFs and Ethereum ETFs are indistinguishable in essence.

Addressing BlackRock’s Bitcoin spot ETF (IBIT), which debuted in January this year, Fink expressed astonishment at its rapid growth, dubbing it “the fastest-growing ETF in fund history.” IBIT garnered a market capitalization of $10 billion within three months of launch, a feat unmatched by any other ETF in history.

Currently, IBIT boasts over $16 billion in assets under management (AuM) and commands more than 40% of daily Bitcoin ETF trading volumes, as per data from The Block.