BlackRock's Ethereum ETF Lags Behind Its Bitcoin ETF—Here's Why
Portfolio Pulse from Murtuza Merchant
BlackRock's Ethereum ETF (ETHA) is underperforming compared to its Bitcoin ETF (IBIT), with ETHA reaching $1 billion AUM in a month, while IBIT has $24 billion. The difference is attributed to Bitcoin's more established investment narrative. Despite slower uptake, ETHA's start is considered good.
October 01, 2024 | 12:05 pm
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POSITIVE IMPACT
BlackRock's Bitcoin ETF (IBIT) has $24 billion in AUM, significantly outperforming the Ethereum ETF due to Bitcoin's established investment narrative.
IBIT's strong performance with $24 billion AUM highlights Bitcoin's established narrative and investor confidence, contrasting with the slower uptake of Ethereum ETFs.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
BlackRock's Ethereum ETF (ETHA) has reached $1 billion in AUM but lags behind the Bitcoin ETF due to a less established investment narrative.
ETHA's performance is underwhelming compared to IBIT, attributed to Ethereum's less digestible investment narrative. Despite this, reaching $1 billion AUM in a month is a positive sign, but the gap with Bitcoin ETFs is expected to persist.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100