Robert Mitchnick, the head of digital assets at BlackRock, noted that trading volumes and inflows from its Ethereum spot exchange-traded fund are relatively low compared to Bitcoin’s and may continue that way.

In an appearance at the Messari Mainnet conference, Mitchnick stated that this disparity was evident due to its clients’ lack of clarity on the Ethereum investment vehicle. He noted that the concept around Bitcoin, its properties, and its utility was easier to grasp than Ethereum’s, hence the increased adoption.

Adoption Will Take Time: BlackRock Exec

While lauding the impressive feat that the iShare Ethereum Trust (ETHA) has achieved, Mitchnick asserted that the fund will need more time to catch up with the iShare Bitcoin Trust (IBIT) in terms of trading volume and inflows. The BlackRock exec noted that ETHA has made an impressive market debut compared to most other ETFs. He said the fund’s quick feet to $1 billion assets under management (AUM) were not menial, as it takes some ETFs “several years” to achieve such feet. Furthermore, Mitchnick stated that BlackRock is working on closing the adoption gap between the Ethereum and Bitcoin funds. The exec buttressed further on the asset manager’s plans, revealing it has committed to enlightening clients on the Ethereum investment product.

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