- Comparison of ETHA and IBIT
- Market Overview of Bitcoin and Ethereum ETFs
- Bitcoin's Correlation with Stock Market
BlackRock's Ethereum ETF, ETHA, is significantly underperforming compared to its Bitcoin counterpart, IBIT. Robert Mitchnick, BlackRock’s head of digital assets, acknowledged this at the Messari Mainnet conference in New York.
Comparison of ETHA and IBIT
Launched in July, the Ethereum ETF (ETHA) reached $1 billion in assets under management (AUM) in about a month, whereas the Bitcoin ETF (IBIT) accumulated $2 billion within just 15 days of its January launch. Currently, IBIT boasts $24 billion in assets, while ETHA remains at around $1 billion.
Market Overview of Bitcoin and Ethereum ETFs
Since the SEC approved spot Bitcoin ETFs in January, these products have reached $61 billion in total assets. BlackRock and other companies such as Fidelity have also joined the market.
Bitcoin's Correlation with Stock Market
Bitcoin’s long-term correlation with the stock market remains zero despite short-term fluctuations.
Thus, the complexity of the investment strategy for Ethereum affects the growth of ETHA compared to IBIT. Nevertheless, the overall performance of ETFs remains significant for the market.
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