BlackRock’s Robert Mitchnick: Bitcoin is "overwhelmingly" Top priority for our customers
During Reflexivity Research’s Bitcoin Investor Day fireside chat today, BlackRock’s head of digital assets, Robert Mitchnick, shared insights on the asset manager’s approach to Bitcoin, cryptocurrencies, and the future of cryptocurrency markets.
Mitchnick emphasized that Bitcoin is the top priority for BlackRock clients and that there is little interest in other cryptocurrencies. He emphasized that while the cryptocurrency community wants a broader range of cryptocurrency products from BlackRock, the company’s focus remains on Bitcoin.
🚨News: @black stoneRobert Mitchnick, head of digital assets at , explains how asset managers are thinking about other digital assets. #Cryptocurrency product:
“Bitcoin is overwhelmingly a top priority for our customers. And a little bit of Ethereum and very little everything else.”
He says…
— Eleanor Terrett (@EleanorTerrett) March 22, 2024
Michnick expressed optimism about the future of Bitcoin on Wall Street about the convergence of traditional finance and new technology developments, saying, “Ultimately, we expect there will be a convergence where the best of existing systems and new technologies merge.” “It is a new financial infrastructure system.”
Earlier this year, the U.S. Securities and Exchange Commission approved the placement of spot Bitcoin exchange-traded funds (ETFs), including an application from BlackRock. Since then, their ETF has become one of the most successful ETF launches in history. BlackRock’s spot Bitcoin ETF, $IBIT, has seen net inflows for the past 49 consecutive days, a feat achieved by only 30 other ETFs, according to Bloomberg senior ETF analyst Eric Balchunas.
$ goes and $FBTC I’ve now taken cash for 49 days in a row. This is something only 30 other ETFs have done. This is number four in an active streak. $COWZ $CALF (It’s been over 100 days, damn it) And $SDVY. great chart @thetrinianalyst pic.twitter.com/CUxFNFa7tN
— Eric Balchunas (@EricBalchunas) March 22, 2024
