Robert Mitchnick, head of digital assets at BlackRock, has revealed that the financial giant’s clients are showing “little” interest in Ethereum, the second cryptocurrency by market capitalization.
Robert Mitchnick, head of digital assets at BlackRock, has revealed that the financial giant’s clients are showing “little” interest in Ethereum, the second cryptocurrency by market capitalization.
At the same time, “there is very little interest in the rest of the world”, which means that the investment company does not even consider smaller currencies.
Mitchnick has acknowledged that the cryptocurrency community wants the financial giant to explore more options, but says BlackRock remains primarily focused on Bitcoin.
Bitcoin, according to the executive, is “overwhelmingly the number one priority.”
Recently, BlackRock joined the tokenization race by launching a new fund based on the Ethereum network. The fund, which was officially launched earlier this week, allows you to earn returns in US dollars with the help of blockchain technology.
In November, BlackRock also filed to launch an Ethereum exchange-traded fund. However, the US Securities and Exchange Commission further postponed its decision on this application in early March.
As Guru-Investingreported, the chances of an Ethereum ETF being approved collapsed due to regulatory pressure.
A week ago, Senators Jack Reed and Laphonza Butler specifically asked SEC Chairman Gary Gensler not to approve ETFs for more cryptocurrency tokens.
At the same time, the SEC has reportedly launched an aggressive campaign to label Ether as a security, further decreasing the likelihood of an Ether-based spot ETF being approved in the near future.
