Head of Digital Assets at BlackRock, Robert Mitchnick, gave a brief interview at the Bitcoin 2024 conference:
1.BlackRock clients are primarily interested in BTC and slightly in ETH. However, there is very little interest beyond these two assets.
2. ETF holders exhibit a significant degree of long-term holding.
3. IBIT has had only one day of negative flows in the 6.5 months since its launch in January. It is expected that this situation will change over time, likely with more days of negative flows.
4.The Bitcoin ETF is an extremely successful product, but it has not yet gained traction among institutional investors or advisors. The situation is likely to change later this year or beyond.
5.Independent advisors typically allocate 2-3% of capital to Bitcoin.
6.BlackRock views Bitcoin not just as a "risky" asset but as an asset with unique fundamental drivers and the potential to become a secure store of value.
7.The company expects that in the long term, demand for an ETH ETF will be about 20-25% of the demand for a Bitcoin ETF.
8.Bitcoin is highly correlated with risk assets and is dependent on low interest rates
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