Mitchnick conceded that the performance of BlackRock's ETHA has been "underwhelming" compared to its Bitcoin ETF, emphasizing the relative success and rapid capital accumulation of IBIT.
He emphasized that ETHA's $1 billion in AUM within a month is remarkable for a new ETF, pointing out that it typically takes years for such achievements.
Mitchnick noted, "With ETH, I think the investment story and narrative is a bit less easy for a lot of investors to digest," indicating challenges in investor perception.
Despite lower inflows, Mitchnick remains optimistic about ETHA's start, acknowledging its educational journey with clients as crucial for fostering understanding in cryptocurrency investment.
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