Is RUNE on Ethereum?

I'm curious about the location of RUNE. Could you clarify for me whether RUNE is currently situated on the Ethereum blockchain? If it is, what are the implications of this placement for RUNE's functionality and interoperability within the crypto ecosystem? Could you elaborate on the benefits or challenges that being on Ethereum might pose for RUNE? Additionally, is there any chance that RUNE might migrate to a different blockchain in the future? Understanding these details would greatly assist me in comprehending the broader context of RUNE's position within the cryptocurrency landscape.