BlackRock executive: Bitcoin ETF holders are shifting from retail investors to institutional clients

Robert Mitchnick, head of digital assets at BlackRock, said at the Token2049 event in Dubai that Bitcoin ETF funds are flowing in on a large scale, and the investor structure is shifting from retail to institutional. Mitchnick pointed out that in the early stages of ETF launch, it was mainly retail clients participating, including high-net-worth individuals with holdings of over $100 million. However, the proportion of retail clients has been gradually decreasing each quarter, while the proportion of institutional and wealth management clients has been increasing. Regarding altcoin ETFs, he said that the market interest is still mainly focused on Bitcoin, as Bitcoin's properties as a portfolio hedge tool are different from other cryptocurrencies.