At the Bitcoin 2024 conference, Robert Mitchnick from BlackRock's digital assets division shared his views. He stated that Bitcoin and Ethereum exist in a complementary relationship rather than competitive one. Despite the recent launch of physically-backed Ethereum ETFs, Mitchnick suggests that it is unlikely to see funds tracking other crypto assets in the short term. He explained that Bitcoin serves as an alternative to global currency, while Ethereum plays the role of a technological platform. Moreover, Mitchnick mentioned that while the regulatory environment remains unclear, the US Securities and Exchange Commission (SEC) has explicitly stated that it will not approve any Ethereum ETF with staking components. Nevertheless, he still has a positive outlook on the overall development of crypto assets, predicting more opportunities for market entry in the future. For instance, competitor VanEck has become the first company to apply for a Solana ETF, although experts generally believe that the chances of approval are slim.