The volume and inflows for BlackRock’s recently-launched Ethereum ETF are vastly lower than their Bitcoin counterparts—and the company’s head of digital assets, Robert Mitchnick, doesn’t expect that to change anytime soon.

BlackRock's Ethereum ETF struggles with market uptake due to challenges in Ethereum's complex narrative, said BlackRock's Robert Mitchnick.

US spot Bitcoin ETFs (exchange-traded funds) extended their positive inflow streak to eight days after a collective $61.3 million entered the funds on Sep. 30. The fund belonging to asset management giant BlackRock led the way in inflows yesterday with data from Farside Investors showing that its IBIT saw $72.2 million enter its reserves.

Robert Mitchnick from BlackRock pointed to Ethereums more complicated investment narrative as a reason for the slower growth of its ETF compared to Bitcoin. Despite this, Ethereum ETFs passed a $1 billion milestone,

Bitcoin ETFs now command $59.08 billion, or 4.69% of BTC’s market cap. BlackRock’s BTC and ETH ETFs have combined cumulative inflows of $22.65 billion. Ethereum

BlackRock has been the dominant leader in the spot Bitcoin ETF realm, and with its new milestone, it has further cemented its place in the spot Ethereum ETF circle's top performers.