BlackRock: Bitcoin ETF funds flow towards institutions, cautious about potential ETF policies brought by new SEC chairman

At the token2049 seminar in Dubai, Robert Mitchnick, Head of Digital Assets at BlackRock, stated that the capital flow of Bitcoin ETFs is significantly returning and gradually shifting from retail investors to institutional clients. Mitchnick pointed out that the initial launch of ETFs was mainly led by retail clients, including high net worth individuals holding over $100 million. However, the proportion of individual investors' holdings decreases every quarter, while the proportion of institutional and wealth advisory clients increases. He emphasized that this transformation is not achieved overnight, but requires a longer period of adaptation. Mitchnick also mentioned that although Bitcoin is seen as an unreasonable leverage beta for technology stocks, investors may consider including it in their investment portfolios if it is used as a safe haven or non monetary risk hedging tool. 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 ETF policies that the new SEC chairman Paul Atkins may bring, believing that the regulatory framework may make certain matters more complex.