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BlackRock Exec Explains Its Ethereum ETF Product’s Underperformance
In the last two months since launch, spot Ethereum ETF, iShares Ethereum Trust (ETHA) product from BlackRock Inc (NYSE: BLK) has seen some inflows, but it hardly measures up to how well the firm’s iShares Bitcoin Trust (IBIT) performed when it was two months old. The volumes and inflows do not match up in any way. BlackRock’s head of digital assets, Robert Mitchnick, does not see the negative narrative changing anytime soon.
BlackRock Exec Says Ethereum’s Investment Story Is Cumbersome
The BlackRock executive attended the Messari Mainnet conference in New York and spoke about ETHA’s performance. He described it as underwhelming compared to IBIT but acknowledged its milestone against ETFs overall. Noteworthy, the fund recently surpassed $1 billion in net asset value, becoming the second spot Ethereum ETF to achieve this after Grayscale’s Ethereum Mini Trust.
“It’s very rare tha
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