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BlackRock, one of the world’s largest asset management firms, has had a slower start than its Bitcoin ETF with its Ethereum spot ETF (ETHA). Speaking at the Messari Mainnet conference, the firm’s head of digital assets, Robert Mitchnick, admitted that ETHA’s performance has not been as fast as that of its Bitcoin ETF. BlackRock’s Bitcoin ETF (IBIT) reached $2 billion in assets under management (AUM) in just 15 days, while ETHA reached $1 billion in the same period.
Mitchnick stated that Ethereum presents a more complex narrative for investors, which is why investors have difficulty understanding it. However, he expressed his belief in Ethereum’s potential in the long term. Emphasizing that Ethereum plays a complementary role with Bitcoin in investment portfolios, Mitchnick predicts that investors will allocate 20% of their crypto assets to Ethereum and the remaining 80% to Bitcoin.
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Commenting on the Ethereum ETF, Larry Fink, CEO of BlackRock, the world’s largest asset manager, shared his views for the upcoming period. However, what Fink said is an important and followed data for the markets.