BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs

BlackRock, the largest asset-management company in the world, believes that sovereign wealth funds, pension funds, and endowments will soon join the Bitcoin ETF market. Robert Mitchnick, the firm’s head of digital assets, stated that financial institutions are engaging in diligence and research conversations, with BlackRock playing an educational role. Mitchnick revealed that BlackRock has been discussing Bitcoin with these types of institutions for several years. While competition in terms of size with Grayscale’s GBTC is not their main focus, BlackRock sees a new wave of investors, such as institutional funds, entering the market in the coming months. The firm believes that Bitcoin ETFs have significant potential, and they are also looking into an Ethereum ETF and exploring the benefits of cryptoassets, stablecoins, and tokenization for their clients and capital markets.