BlackRock’s Strategy on bitcoin and Cryptocurrencies

During a fireside chat at the bitcoin Investor Day by Reflexivity Research, Robert Mitchnick, who serves as the Head of Digital Assets at BlackRock, provided valuable insights into how the asset manager is approaching bitcoin, cryptocurrencies, and the overall crypto market.

Mitchnick made it clear that, for BlackRock’s clients, bitcoin takes precedence over other cryptocurrencies. While the broader crypto community may be eager for a more diverse range of crypto products from BlackRock, the company’s primary focus remains on bitcoin.

Future of bitcoin on Wall Street

Discussing the future of bitcoin in the traditional finance realm, Mitchnick expressed his confidence in a future where traditional financial systems and technological innovations merge. He mentioned, “Eventually we expect there will be a convergence where the best of the old system and the new technology will become fused into a new infrastructure system in finance.”

This year, the U.S. Securities and Exchange Commission greenlit a series of spot bitcoin Exchange Traded Funds (ETFs), including the one from BlackRock. Following approval, BlackRock’s spot bitcoin ETF, known as $IBIT, has witnessed immense success and has become one of the most successful ETF launches in history. According to Bloomberg Senior ETF Analyst Eric Balchunas, $IBIT has experienced net inflows for 49 consecutive days, a feat achieved by only 30 other ETFs.

Impressive Inflow Streak





### News source: bitcoinmagazine.com

See also  Bitcoin stalls at $26k as supply dwindles

By Team