Robert Mitchnack, head of digital assets at BlackRock, has reportedly said that the Ethereum (ETH) exchange-traded fund launched by the global investment giant earlier this year has seen low inflows compared to Bitcoin (BTC).
the Fortune Business Journal reported that inflows into BlackRock's iShares #Ethereum Trust (ETHA) #ETF were "less impressive" than the iShares #Bitcoin Trust (IBIT) ETF owned by the monoline asset manager, Mitchnick reported. quotes him as saying.
According to cryptoasset tracking platform SosoValue, as of September 30, cumulative net inflows into IBIT totaled $21.5 billion and into ETHA totaled $1.15 billion over the same period.
However, Michnik argues that the Ethereum ETF has been relatively successful compared to traditional asset-based ETFs.
Very rarely does an ETF reach $1 billion in assets under management (AUM) in seven weeks like ETHA. In most cases, it takes several years for a new ETF to reach a billion.
The report quotes BlackRock's head of digital assets
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