Robert Mitchnick, Head of Digital Assets at BlackRock, discussed the factors driving the surge in Bitcoin ETFs at Bloomberg ETF IQ. He highlighted strong retail demand and increasing institutional adoption, noting that many advisors are beginning to engage with Bitcoin investments. Mitchnick explained that while Bitcoin's volatility remains, its risk-return profile offers new diversification options for portfolios. Additionally, he mentioned that the industry is seeing an acceleration in ETF approval processes due to fast-tracking by various firms, indicating increasing confidence in Bitcoin as a viable investment option.
It's a lot of things coming together. Out of the gate was retail and investor demand... Now, more recently, we've seen just steady progress of more wealth advisor adoption.
ETF approvals usually take years, but some firms are fast-tracking the process. We're talking about, you know, quarters, not months.
Even though the volatility has come down, it's still volatile, but at the same time its risk and return drivers are markedly different from most of the rest of the assets.
When institutions are looking at this, they're heavily focused on correlation and whether it's zero or even in some periods negative.
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