BlackRock executive: Ethereum ETF faces "narrative" challenges and will not be able to match Bitcoin ETF in the short term

Odaily News BlackRock's recently launched Ethereum ETF has seen far less trading volume and inflows than its Bitcoin ETF, and the firm's head of digital assets, Robert Mitchnick, doesn't expect that to change anytime soon. At the Messari Mainnet Conference in New York, Mitchnick admitted that BlackRock's Ethereum ETF's performance so far has been "less impressive" compared to the Bitcoin ETF. But he urged the audience to compare ETHA to ETFs overall: "It's very rare for an ETF like Ethereum to reach $1 billion in AUM in seven weeks. In most cases, it takes many years for a new ETF to reach that size." Mitchnick said: "I think the investment narrative of Ethereum is not easy for many investors to digest, which is a big reason why we are so committed to the educational journey with many of our clients. So you wouldn't expect them to be as big as Bitcoin in terms of flow and AUM. But it's still a good start." (Fortune)