BlackRock Sees Bitcoin Sentiment Improving as ETF Inflows Accelerate
BlackRock’s Head of Digital Assets Robert Mitchnick said investor sentiment toward bitcoin has improved subtly over the past month as the cryptocurrency increasingly decouples from equities.
Mitchnick argued that bitcoin’s relative strength during July’s AI-stock selloff reinforced its potential role as a portfolio diversifier and hedge against extreme market risks. He also described spot bitcoin ETF investors as predominantly long-term, buy-and-hold participants accustomed to the asset’s volatility.
U.S. spot bitcoin ETFs attracted $853.5 million last week—their strongest weekly inflow since mid-April—despite bitcoin remaining nearly 30% lower year to date. BlackRock’s IBIT captured $693.7 million, accounting for more than 80% of the total, while Fidelity’s FBTC drew $116.4 million.
Analysts have also suggested that security concerns following the reported $100 million-plus Coldcard exploit may be encouraging some investors to move from self-custody into regulated bitcoin ETFs. $BTC
BlackRock’s Head of Digital Assets Robert Mitchnick said investor sentiment toward bitcoin has improved subtly over the past month as the cryptocurrency increasingly decouples from equities.
Mitchnick argued that bitcoin’s relative strength during July’s AI-stock selloff reinforced its potential role as a portfolio diversifier and hedge against extreme market risks. He also described spot bitcoin ETF investors as predominantly long-term, buy-and-hold participants accustomed to the asset’s volatility.
U.S. spot bitcoin ETFs attracted $853.5 million last week—their strongest weekly inflow since mid-April—despite bitcoin remaining nearly 30% lower year to date. BlackRock’s IBIT captured $693.7 million, accounting for more than 80% of the total, while Fidelity’s FBTC drew $116.4 million.
Analysts have also suggested that security concerns following the reported $100 million-plus Coldcard exploit may be encouraging some investors to move from self-custody into regulated bitcoin ETFs. $BTC