BlackRock’s CEO, Larry Fink, has shown support for the potential introduction of an Ether (ETH) exchange-traded fund (ETF) shortly after the launch of the highly anticipated Bitcoin (BTC) ETF. Fink, a key figure in the asset management giant, hinted at BlackRock’s interest in expanding its offerings to include an equivalent product for the native token of the Ethereum blockchain.

In an exclusive interview with CNBC on Friday, Fink expressed his positive stance on the idea, stating, “I see value in having an Ethereum ETF. These are just stepping stones towards tokenization, and I really do believe this is where we’re going to be going.” The CEO’s remarks suggest that BlackRock is considering further diversification in the realm of cryptocurrency investments.

BlackRock’s iShares Bitcoin Trust (IBIT), one of the products that made its trading debut in the U.S. on Thursday following approval from the Securities and Exchange Commission (SEC), played a significant role in the initial success of Bitcoin ETFs. IBIT alone contributed around $1 billion to the total trading volume of $4.6 billion collectively witnessed by the ETFs on their debut day.

Looking ahead, BlackRock appears to be on a continued trajectory towards tokenization. The term ‘tokenization’ refers to the representation of assets, whether tangible or digital, in the form of tokens on the blockchain. Fink sees tokenization as a potential solution to issues related to money laundering and corruption.

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Fink clarified his perspective on cryptocurrency, viewing it not as a traditional currency but as an asset class. Specifically, he referred to Bitcoin as “an asset class that protects you” against geopolitical risks, drawing parallels with the historical role of gold. However, Fink highlighted a key difference, noting that the creation of new bitcoins is approaching its limit, unlike gold.

As BlackRock explores the possibility of an Ethereum ETF, Fink’s endorsement adds momentum to the ongoing evolution of cryptocurrency investment products, underlining the company’s commitment to navigating the dynamic landscape of digital assets.