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.

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

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,

U.S. spot Bitcoin ETFs witnessed daily total net inflows worth $61.30 million on September 30. The inflows marked an eight-day positive streak that started on September 19. BlackRock’s ETF IBIT led with positive flows with $72.

Bitcoin ETFs saw strong inflows of $494.4 million on Friday followed by more modest $61.3 million on Monday, while Ethereum ETFs experienced mixed flows with initial inflows followed by minor outflows at month's end.

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.