Robert Mitchnick talks about BLACKROCK’s Bitcoin ETF IBIT success in Bloomberg.

Today, Digital Asset Officer of BLACKROCK ROBERT MITCHNICK of Bloomberg ETF IQ talked about actually leading the surge in Bitcoin ETF.

Mitchnick said, “Many things have been gathered together. There was a demand for sleeves and investors outside the gate,” MITCHNICK said. “Recently, we have seen more asset adoption and more institutional adoption. It was the mix of people who were the first to invest in the encryption space. On the other hand, many people who have invested in Bitcoin for a long time used ETP wrapping paper.”

MITCHNICK still said in the early days of institutional adoption. ETF approval usually takes a few years, but some companies are tracking the process quickly.

Mitchnick said, “We have seen many companies rapidly tracking and we talk about fast tracking.” We are talking about the quarter, not months. And slowly, but certainly, you have granted approval for lowering barriers and torture for a few months, especially for several months.

The volatility of Bitcoin has recently decreased, making it more attractive to institutions that want diversification. However, volatility is maintained, but risks and return profiles are different from existing assets.

Mitchnick said, “There is no doubt that it is a relatively new technology.” Although volatility has been reduced, it is still volatile, but at the same time danger and return driver are very different from the remaining assets of the traditional portfolio. Therefore, when we were looking at this, we focused on the correlation, and the construction of portfolio is very powerful, whether negative.

Currently, about 12 Bitcoin ETFs are competing in the market and demand is still strong.

MITCHNICK said, “Well, many people were very successful.” Obviously, it was the leader of the category with a fair margin. But you know, as you know, there are many products in the universe and good things. “