Ethereum

Chair

Gary

BlackRock

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Robert Mitchnick, head of digital assets at BlackRock, has <a href="https://twitter.com/EleanorTerrett/status/1771188774606676164" rel="noopener noreferrer nofollow">revealed</a> that the clients of the financial behemoth are showing "little" interest in Ethereum, the second-largest cryptocurrency by market capitalization.
At the same time, there is "very little interest everywhere else," which implies that the investment company is not even considering smaller coins.&nbsp;
Mitchnick has acknowledged that the cryptocurrency community wants to see the financial giant exploring more options, but he says that BlackRock remains mainly focused on Bitcoin.&nbsp;
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, makes it possible to earn US dollar yields with the help of blockchain technology.&nbsp;
In November, BlackRock also filed to launch an Ethereum exchange-traded fund. However, the U.S. Securities and Exchange Commission further postponed its decision on this application earlier this March.&nbsp;
As <a href="https://u.today/ethereum-etf-approval-odds-plummet-heres-why" rel="noopener noreferrer nofollow">reported by U.Today</a>, the odds of an Ethereum ETF being approved collapsed due to regulatory pressure.
A week ago, Senators Jack Reed and Laphonza Butler specifically <a href="https://u.today/senators-urge-sec-to-block-more-crypto-etfs" rel="noopener noreferrer nofollow">asked</a> SEC Chair Gary Gensler not to approve ETFs for more cryptocurrency tokens. &nbsp;
At the same time, the SEC has reportedly launched an aggressive campaign to label Ether as a security, which further diminishes the likelihood of an Ether-based spot ETF being approved in the near future. &nbsp; &nbsp; &nbsp;&nbsp;

BlackRock Claims There's "Little" Demand for Ethereum

U_Today

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