BlackRock executive: Bitcoin ETF holders are shifting from retail to institutional clients

BlackRock's head of digital assets, Robert Mitchnick, said at the Token2049 event in Dubai that bitcoin ETF funds are flowing in at a large scale and the investor structure is shifting from retail to institutional.
Mitchnick pointed out that the initial launch of ETFs was mainly participated by retail customers, including high net worth individuals with holdings of more than $100 million. However, the proportion of retail customers gradually decreased every quarter, and the proportion of institutional and wealth management customers continued to increase. For counterfeit products ETFs, he said that the current market interest is still mainly focused on Bitcoin, because Bitcoin's properties as a portfolio hedge are different from other cryptocurrencies.