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.

In comparison, Bitcoin ETFs recorded a whopping $1.11 billion in inflows during the same week, with inflows occurring every day. This was Bitcoin’s largest weekly inflow since the 19th of July. The Ethereum ETFs began trading in the U.S. on the 23rd of July, roughly six months after Bitcoin ETFs.

Ethereum (ETH) is down 2% on Monday, struggling around the $2,595 key support level after the ETH Foundation continued its selling spree. However, the slow price movement in the past few hours isn't reflective of the rising inflows across US spot Ethereum ETFs.

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

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,