BlackRock’s head of digital assets, Robert Mitchnick, says most investors looking at exchange-traded funds in the space are mainly interested in Bitcoin and Ethereum, with little demand for other assets so far.
Speaking on CNBC after the launch of BlackRock’s staked ether ETF, Mitchnick pointed out that Bitcoin still dominates the market with roughly 60% of total value, while Ethereum sits in the low-teens range. According to him, those two continue to attract the majority of investor attention when it comes to ETF exposure.
The firm’s spot Bitcoin fund, IBIT, brought in around $26 billion in inflows during 2025 even though Bitcoin dropped nearly 50% from its October peak. Despite the price slide, the fund still ranked fourth worldwide in ETF inflows, making it the only product in the global top 20 to record positive flows while its underlying asset declined.
Most holders appear to be long-term investors. Data from the fund suggests close to 90% of participants kept accumulating throughout the downturn, with steady inflows continuing this year.
Mitchnick explained that investors often see the two assets in very different ways. Bitcoin is typically treated as a monetary alternative, while Ethereum is viewed more as a bet on blockchain technology and the broader ecosystem built around it.
“Digital gold emerging monetary alternative”
BlackRock’s ether fund, ETHA, quickly gained traction after launch, becoming the third-fastest ETF ever to reach $10 billion in assets. Only IBIT and Fidelity’s FBTC reached that milestone faster.
The company’s newest product, ETHB, introduces staking rewards alongside direct Ethereum exposure. Mitchnick described the added yield as something earlier ether funds were missing, making the product more attractive for investors looking for a simple way to gain exposure.
According to BlackRock, retail traders and financial advisors account for most of the demand behind both Bitcoin and Ethereum ETFs. Hedge funds represent a smaller share, often using the products for arbitrage strategies involving futures markets.
While the firm continues to monitor other digital assets as the market evolves, Mitchnick said investor interest today is still heavily concentrated on Bitcoin and Ethereum.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
