According to Gate.io News bot, TheBlock reported that Robert Mitchnick, head of digital assets at BlackRock, spoke at the Token2049 conference in Dubai. He pointed out that the inflow of funds into the Bitcoin ETF is approaching the highest level since the product was launched, and the investor structure is shifting from retail investors to institutions.
Mitchnick stated that in the initial phase of the ETF launch, the majority of investors were retail investors, which included high-net-worth clients holding over 100 million dollars. Subsequently, the proportion of institutional and wealth management clients increased quarter by quarter. He emphasized that Bitcoin is a safe-haven asset or a diversification investment tool, rather than a leveraged beta of tech stocks.
Regarding the topic of other cryptocurrency ETFs, Mitchnick pointed out that Bitcoin remains dominant, and the investment logic for alternative coins differs. He also takes a cautious stance on the policies of the new SEC chairman Paul Atkins, expecting a stricter regulatory framework.