CandleFocus BlackRock Names Key Reason Behind Ethereum ETF Failure
2024-10-01
Author: Content Editor
The head of digital assets at Blackrock, Robert Mitchnick, believes that Ether-based exchange-traded funds (ETFs) will continue to underperform due to investor reluctance and confusion regarding the cryptocurrency's investment narrative. Despite this, Mitchnick argues that Ether ETFs are performing decently compared to other ETF products. Blackrock's ETHA recently became the first Ether ETF to clear the $1 billion milestone, outpacing rival products from Fidelity and Bitwise. However, BlackRock has no plans to launch ETFs for other alternative cryptocurrencies, as confirmed by the chief information officer, Samara Cohen. VankEck, on the other hand, has applied to launch a Solana ETF.
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