In this episode of the Unchained podcast, Robbie Mitchnick, head of digital assets at BlackRock, shares insights on the remarkable success of their Bitcoin ETF, the iShares Bitcoin ETF (iBIT), which has surpassed even their most optimistic expectations. This growth is largely driven by the recent US election results, attracting new institutional investors and minimizing sell-side pressure. Mitchnick addresses the common misconception of Bitcoin as a "risk-on" asset, highlighting its role as a unique diversifier and a hedge against macroeconomic uncertainties. He also outlines BlackRock's comprehensive strategy in the digital asset space, which includes crypto, stablecoins, and tokenization. He underscores the need for regulatory clarity to foster industry growth and discusses the challenges of integrating decentralized finance (DeFi) with traditional financial systems.
