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Blackrock's Bitcoin Believer
May 23, 2024
Robert Mitchnick, Head of digital assets for BlackRock, discusses the success of the iShares Bitcoin Trust launch, reaching $20 billion in assets. The podcast explores BlackRock's journey into Bitcoin, addressing client frustration, and filing for a Bitcoin ETF. They also delve into Bitcoin's role as a store of value asset, rebalancing investments, and the potential benefits of tokenization in revolutionizing investment assets.
45:51
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Quick takeaways
- IBIT became the fastest ETF to reach $10 billion in assets, showcasing remarkable growth and investor interest in Bitcoin.
- Robby Mitchnick's role in BlackRock's digital asset strategy led to the successful launch of I-Bit, positioning the firm as a key player in the crypto market.
Deep dives
BlackRock's Bitcoin ETF Success
BlackRock's Bitcoin ETF, I-Bit, has experienced unprecedented success in terms of asset accumulation, outpacing established ETFs and attracting significant global flows. In just 49 days, I-Bit reached $10 billion in assets, surpassing other ETFs. This rapid growth has surprised analysts, with I-Bit accounting for 18% of BlackRock's global flows, a remarkable achievement for a newly launched ETF.
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