Robert Mitchnick, head of digital assets development at BlackRock, said that the company’s clients have little interest in investing in cryptocurrencies, with the exception of Bitcoin and Ether.
During the Bitcoin Investor Day conference, Robert Mitchnick reported that the vast majority of BlackRock clients prefer investing in bitcoin, invest a little in ether, and have little or no interest in gaining access to other altcoins. Therefore, the largest asset manager has no plans to introduce other cryptocurrencies into traditional finance in the near future.
When Mitchnick was asked about the future of Bitcoin on Wall Street in ten years, he suggested that within that time frame a new infrastructure would emerge that would combine the best of traditional finance with the latest technology.
In January, BlackRock launched a Bitcoin spot ETF, the iShares Bitcoin Trust (IBIT), which boasts $13.3 billion in inflows. The asset manager also filed with the US Securities and Exchange Commission (SEC) to launch a spot Ethereum ETF. along with its competitors Grayscale and Fidelity.
However, BlackRock management is not sure that the regulator will approve the company’s application in the near future. There are two reasons for this – the lack of interaction on the application from the regulatory authority and the department’s study of the question of whether ether became a security after the transition of the Ethereum network to the Proof-of-Stake (PoS) algorithm.
Meanwhile, BlackRock has shown strong interest in blockchain-based real assets. A few days ago, the company announced plans to launch its first tokenized asset fund in collaboration with US platform Securitize.
