PANews April 30 news, at the discussion panel of Token2049 in Dubai, BlackRock’s head of digital assets, Robert Mitchnick, stated that the funding flow of the Bitcoin ETF is significantly returning and gradually shifting from retail investors to institutional clients.
Mitchnick pointed out that the early stage of the ETF launch was mainly dominated by retail investors, including high-net-worth individuals holding over $100 million. However, the proportion of retail investors has been declining each quarter, while the proportion of institutional and wealth advisor clients has been rising. He emphasized that this transition is not abrupt but requires a longer period of adaptation. Mitchnick also mentioned that although Bitcoin is viewed as an unreasonable leveraged beta of tech stocks, if it is considered a safe haven or a non-monetary risk hedging tool, investors may consider including it in their portfolios.
For other cryptocurrency ETFs, he believes that unlike Bitcoin, their investment positioning is different, and currently, market interest is still focused on Bitcoin. He is cautious about the potential new ETF policies that new SEC chair Paul Atkins may bring, believing that the regulatory framework may complicate certain matters.
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