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Blog

BlackRock’s Robert Mitchnick: Bitcoin Is “Overwhelmingly” The Number One Priority For Clients

In a fireside chat today at the Bitcoin Investor Day by Reflexivity Research, Robert Mitchnick, the Head of Digital Assets at BlackRock, shared insights into the asset manager’s approach to Bitcoin, cryptocurrencies and the future of the crypto market.

Mitchnick emphasized that Bitcoin remains, overwhelmingly, the top priority for BlackRock’s clients, with minimal interest in other cryptocurrencies. He highlighted that the crypto community desires a broader range of crypto products from BlackRock, but the company’s focus remains on Bitcoin.

Regarding the future of Bitcoin on Wall Street, Mitchnick expressed optimism about a convergence between traditional finance and new technological advancements, stating, “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.”

Earlier this year, the United States Securities and Exchange Commission approved a batch of spot Bitcoin Exchange Traded Funds (ETFs), including BlackRock’s application. Since then, their ETF has gone on to be one of the most successful ETF launches in history. BlackRock’s spot Bitcoin ETF $IBIT has seen net inflows for the last 49 days straight, something only 30 other ETFs have ever done, according to Bloomberg Senior ETF Analyst Eric Balchunas.

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