According to The Block, Robert Mitchnick, head of digital assets at BlackRock, said at a Dubai Token2049 event that Bitcoin ETF funds are inflowing on a large scale and that the investor structure is shifting from retail to institutions. Mitchnick noted that the initial stage of the ETF launch was mainly participated by retail customers, including high-net-worth individuals with more than $100 million in holdings. However, the proportion of retail customers gradually declined every quarter, while the proportion of institutional and wealth management customers continued to rise. Regarding the altcoin ETF, he said that the current market interest is still mainly focused on Bitcoin, because the properties of Bitcoin as a portfolio hedge tool are different from other cryptocurrencies.
BlackRock executives: Bitcoin ETFs have strong inflows, investor structure is shifting from retail investors to institutions
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