According to Gate.io News bot, TheBlock reports that BlackRock’s head of digital assets, Robert Mitchnick, gave a speech at the Token2049 conference in Dubai. He pointed out that the inflow of funds into the Bitcoin ETF has approached the highest level since the product was launched, and the investor structure is shifting from retail investors to institutions.
Mitchnick stated that in the early stages of the ETF launch, the investors were primarily retail investors, including high-net-worth clients with holdings exceeding 100 million USD. Subsequently, the proportion of institutional and wealth management clients has increased quarter by quarter. He emphasized that Bitcoin is a hedging asset or a diversification investment tool, rather than a leveraged beta of technology stocks.
Regarding other cryptocurrency ETF topics, Mitchnick pointed out that Bitcoin remains dominant, and the investment logic for altcoins differs. He also takes a cautious stance on the policies of the new SEC chairman Paul Atkins, anticipating that the regulatory framework will be more stringent.
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