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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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
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