Helena Lyng Blak
7 weeks ago

Crypto-showdown: Larry Fink vs. Gary Gensler

One cryptocurrency analyst explains the surprising showdown between the BlackRock CEO and SEC chair.
Ethereum (ETH) cryptocurrency coin in front of an abstract blue virtual background
Hi my name is Jacco / Shutterstock.com

A confrontation is emerging in the cryptocurrency world.

In particular, between Larry Fink, the CEO of BlackRock, and Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC).

Steno Research’s cryptocurrency analyst Mads Eberhardt provides the rundown on the showdown:

“We are witnessing an unexpected showdown in the crypto world. On one side stands Larry Fink, co-founder and CEO of BlackRock, the world’s largest asset manager. On the opposite side is Gary Gensler, the chair of the U.S. Securities and Exchange Commission,” he says. 

“The bone of contention? Fink is pushing for Ethereum spot ETFs, while Gensler seems largely opposed. Over the next few months, we will see who emerges victorious in this clash.”

Fink’s BlackRock is currently applying for an Ethereum Exchange-Traded Fund (ETF) with the SEC, following the SEC approving a series of Bitcoin ETFs earlier this year.

The SEC’s approval of Bitcoin ETFs was one of the contributing factors to Bitcoin’s price surge throughout March.

“This showdown is crucial in the coming weeks and months,” states Eberhardt.

“An Ethereum spot ETF could be a game-changer for Ethereum, mirroring the impact spot ETFs had on Bitcoin. It will also reveal how far the SEC might continue its aggressive stance towards crypto.”

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