BlackRock CEO Wants to Work with Regulators on BTC Spot ETF Filing


According to a report, BlackRock CEO Larry Fink expressed that his organization wants to cooperate with authorities and discuss whatever concerns they could have over a current filing from the management company for a spot bitcoin ETF. 

BlackRock CEO Compares Bitcoin to ‘Digitizing Gold’

In addition, he stated that in his opinion, the largest cryptocurrency by market capitalization is “digitizing gold.”

On Wednesday, in an interview with Fox Business, he said: “We have a good track record working with our regulators and trying to make sure we’re thinking about all the issues around any filing,” he added: “We work really closely with our regulators, and we want to hear from the regulators.” 

Fink is Not a Crypto Holder

Despite the fact that he claimed not to personally hold any asset, Fink compared the commodity to digital gold. He noted: “Specifically on bitcoin, as I’ve said in the past, we’re a believer in digitization of products,” he further added: “Bitcoin is an international asset…It can represent an asset that people can play as an alternative.”

An Insight into the BlackRock Bitcoin ETF

The BlackRock CEO presented his thoughts about cooperating after the disclosure of a “surveillance-sharing agreement” between Coinbase and BlackRock in an amended filing concerning the company’s efforts to launch a spot Bitcoin exchange-traded fund (ETF). 

It is worth noting that BlackRock, in partnership with American cryptocurrency exchange Coinbase, presented a proposal with the US Securities and Exchange Commission (SEC) in June for a spot Bitcoin Exchange Traded Fund (BTC ETF). 

SEC has not Approved a Single Bitcoin ETF

However, over time, it has become clear that registering a Bitcoin ETF with the SEC is a significant task, particularly for trading on the spot market. The SEC has denied a number of applications for spot BTC ETFs, including Grayscale’s

The SEC also rejected Fidelity’s application for the Wise Origin Bitcoin Trust Spot ETF in the beginning of 2022. In October of last year, the agency rejected WisdomTree’s proposal for a spot BTC ETF, citing issues with insufficient investor protections and fraud.

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