GBTC - BlackRock Anticipates Renewed Institutional Interest In Bitcoin Spot ETFs | Benzinga
Despite a recent pause in inflows to spot bitcoin exchange-traded funds (ETFs) after a continuous 71-day streak, industry experts predict a resurgence led by a broader investor base.
What Happened: Robert Mitchnick, head of digital assets at BlackRock (NYSE:BLK), the world's leading asset management firm, suggests that the lull may soon be replaced by inflows from a variety of institutional investors.
According to Mitchnick, financial giants such as sovereign wealth funds, pension funds, and endowments are likely to begin engaging with spot ETFs in the upcoming months, Coindesk reported.
“The re-initiation of the discussion around bitcoin is turning on how to allocate BTC into portfolio constructions,” Mitchnick explained during an interview.
He further elaborated on the educational role BlackRock has been playing to facilitate this transition: “Many of these interested firms are having ongoing diligence and research conversations, and we're playing a role from an education perspective.”