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Blackrock, the world’s largest asset manager, disclosed its first-quarter financial results, boasting a record $10.5 trillion in assets under management (AUM), marking a substantial $1.4 trillion increase from the previous year. Notably, its Ishares Bitcoin Trust (IBIT) continues to dominate the U.S. spot bitcoin ETF market, holding over $18.9 billion in bitcoin assets, with approximately 269,314 BTC as of April 11.
CEO Larry Fink expressed optimism about Bitcoin’s future, citing IBIT as “the fastest growing ETF in the history of ETFs” and acknowledging strong retail demand. Despite this success, Blackrock faces regulatory challenges in its pursuit of a spot ether ETF. While optimism surrounds potential SEC approval, skepticism grows, with Jan Van Eck of Vaneck anticipating rejection for his firm’s application in May.
Furthermore, reports suggest the SEC may classify ether as a security, posing additional hurdles. However, Fink remains undeterred, believing that even if ether is labeled a security, Blackrock can proceed with launching a spot ether ETF.
