Mitchnick, head of BlackRock's cryptocurrency business, sees bitcoin as a "safe haven asset".
Speaking at the Bitcoin 2024 conference in Nashville, Tennessee, on July 25, Robert Mitchnick, BlackRock's head of digital assets, said that BlackRock sees "very little interest" from clients in cryptocurrencies other than Bitcoin (BTC) and Ethereum (ETH), and does not expect many other cryptocurrency exchange-traded funds (ETFs) to emerge beyond those two core digital assets.
BlackRock's Robbie Mitchnick said that the strong buy and hold demand from holders of spot bitcoin ETFs is quite significant.