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

Odaily News 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 the initial launch of ETFs was mainly participated by retail customers, including high-net-worth individuals with holdings of more than $100 million. However, the proportion of retail customers has gradually decreased every quarter, while the proportion of institutional and wealth management customers has continued to increase. As for altcoin ETFs, he said that the current market interest is still mainly focused on Bitcoin, because Bitcoin's properties as a portfolio hedging tool are different from other cryptocurrencies. (The Block)