BlackRock’s CEO said the SEC classifying Ether as a security would not preclude spot Ethereum ETFs from entering the market.

BlackRock, the world’s largest asset manager, has reaffirmed its commitment to bringing a spot Ether ETF to market, regardless of whether the U.S. Securities and Exchange Commission classifies Ether as a security.

In a March 27 appearance on Fox Business, Larry Fink, the CEO of BlackRock, said Ether becoming classified as a security by the SEC would not be “deleterious” to its spot ETH exchange-traded fund (ETF) ambitions.

When asked if an Ether ETF would still be on the cards in the event of a securities designation for Ether, Fink said “I think so.”

BlackRock filed for a spot Ether ETF in November, two months before its iShares Bitcoin Trust (IBIT) was approved by the SEC. IBIT began trading in early January and has since absorbed $15.4 billion to rank as the third-largest commodity ETF behind the top two gold funds.