Golden Finance reported that Robert Mitchnick, the head of digital assets at BlackRock, stated 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 in the early stages of the ETF launch, participation was mainly from retail clients, including high-net-worth individuals with holdings exceeding 100 million dollars. However, the proportion of retail clients has gradually declined each quarter, while the proportion of institutional and wealth management clients has continuously risen. Regarding altcoin ETFs, he stated that market interest is still mainly focused on Bitcoin, as Bitcoin's attributes as a portfolio hedging tool differ from those of other cryptocurrencies.