BlackRock: Bitcoin ETFs Will See New Round of Investments
The current slowdown in the Bitcoin exchange-traded fund (ETF) market will likely be followed by a new wave of diverse investors, according to Robert Mitchnick, the head of digital assets at BlackRock.
He believes that in the near future, financial institutions such as pension funds, endowments, and sovereign wealth funds will start trading ETFs based on the first cryptocurrency.
Mitchnick also mentioned that BlackRock has observed a renewed interest in Bitcoin and its potential integration into investment portfolios. The company serves as an educational resource for parties that are interested in this instrument.
At the moment, some registered investment advisers offer BlackRock’s IBIT fund to their clients, but only on an advisory basis.
The next step would be to expand the product to major consulting firms like Morgan Stanley.
