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

According to Golden Finance, Robert Mitchnick, head of digital assets at BlackRock, stated at the Dubai Token2049 event 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 clients, including high net worth individuals with holdings exceeding $100 million. But the proportion of retail customers gradually decreases every quarter, while the proportion of institutional and wealth management customers continues to rise. For the altcoin ETF, he stated that the current market interest is still mainly focused on Bitcoin, as its attributes as a hedge tool for investment portfolios are different from other cryptocurrencies.