Summary
- Robert Mitchnick, head of digital assets at BlackRock, stated that the Ethereum (ETH) ETF could potentially reverse if regulatory issues are resolved.
- He pointed out the lack of staking revenue as one of the reasons for the Ethereum ETF's underperformance compared to the Bitcoin ETF.
- He explained that adding staking functionality is an important task that can enhance the completeness and profitability of the Ethereum ETF.
Robert Mitchnick, head of digital assets at BlackRock, attended the Blockworks Digital Asset Summit (DAS) on the 20th (local time) and stated, "Although the Ethereum (ETH) Exchange-Traded Fund (ETF) has experienced a slump since its launch last July, the situation could reverse if some of the regulatory issues suppressing the ETF are resolved."
According to CNBC that day, he said, "There is a prevailing opinion that the performance of the Ethereum ETF is poor compared to the Bitcoin (BTC) ETF," and added, "The inability to earn staking revenue through this product may be a major factor suppressing its growth."
He continued, "An Ethereum ETF without staking functionality is incomplete," explaining that "staking revenue is a meaningful part of generating additional income."
Furthermore, he added, "Adding staking functionality to the Ethereum ETF is not an easy issue," and "It's not a simple matter of a new administration approving something and all of us jumping into the race. There are quite complex challenges, but if we solve them, there will be changes in the situation."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
