BlackRock executives: ETH ETF faces "narrative" challenges, short-term performance is difficult to match BTC ETF.

The volume and inflow of funds of the ETH ETF recently launched by BlackRock are much lower than that of the BTC ETF. Robert Mitchnick, the head of digital assets at the company, expects this situation to not change quickly. At the Messari Mainnet conference in New York, Mitchnick acknowledged that compared to BTC ETF, BlackRock’s ETHA ETF’s performance so far has been ‘less impressive’. But he urged the audience to compare ETHA with the overall ETF: ‘It is very rare for an ETF like ETHA to reach $1 billion Assets Under Management in just seven weeks. In most cases, it takes many years for a new ETF to reach this scale.’ Mitchnick said, ‘I think the investment narrative of ETH Ethereum is not easy for many investors to digest, which is why we are so committed to an educational journey with many clients. So you wouldn’t expect them to be as big as BTC in terms of flow and Assets Under Management. But this is still a good start.’ (Fortune)