Despite the negative flow of Ethereum ETFs, BlackRock ETF and Index Investments CIO Samara Cohen remains positive about ETH ETF.
In contrast, BlackRock has seen inflows of $58.2 million into its ETH ETF and $256.6 million into itsDespite BlackRock’s impressive performance, the overall trend shows that while Bitcoin ETFs experienced net inflows totaling $124.1 million, ETH ETFs saw a net outflow of $98.3 million.
Cohen highlighted that a significant portion of Ethereum ETF trading volume—25%—is driven by substantial outflows, which could be due to higher-priced ETH ETFs and other investment vehicles.“Investors really want to get their ETH exposures, especially if they are going to use it in the context of an overall portfolio in an ecosystem they have confidence in.
This decision underscores BlackRock’s cautious approach to expanding its crypto ETF offerings, focusing solely on the two most established cryptocurrencies. This also aligns with BlackRock’s head of digital assets, Robert Mitchnick, who, in a recent Bitcoin conference, reiterated that the firm sees no immediate prospects for new crypto ETFs.
In conclusion, BlackRock’s CIO, Samara Cohen, anticipates that crypto ETFs will become a fixture in “model portfolios” by the end of 2024.
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