The head of BlackRock's digital assets talks about Bitcoin ETF: capital inflows are returning on a large scale.

Robert Mitchnick, head of digital assets at BlackRock, stated at the Token2049 in Dubai that the inflow of funds into Bitcoin ETFs has significantly rebounded, with the investor structure shifting from retail investors to institutions. He pointed out that in the early stages of the ETF launch, retail investors dominated, including high-net-worth clients with holdings exceeding $100 million, but the proportion of institutional and wealth management clients has been rising each quarter. Mitchnick believes that Bitcoin is not a leveraged beta of tech stocks but rather a safe-haven asset or a diversified investment vehicle. The scale of fund inflows has approached the highest level since the ETF launch. Regarding other crypto assets ETFs, he mentioned that Bitcoin still dominates, and the investment logic for alternative coins is different. Mitchnick holds a cautious attitude toward the policies of the new SEC chair Paul Atkins, expecting the regulatory framework to be stricter.