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

Golden Finance reported that Robert Mitchnick, head of digital assets at BlackRock, stated at the Token2049 event in Dubai that funds for Bitcoin ETFs are flowing in on a large scale, and the investor composition is shifting from retail to institutional. Mitchnick pointed out that in the early stages of the ETF launch, it was mainly retail clients participating, including high-net-worth individuals with holdings exceeding 100 million dollars. However, the proportion of retail clients has gradually declined each quarter, while the proportion of institutional and wealth management clients has been continuously rising. Regarding altcoin ETFs, he stated that current market interest is still mainly focused on Bitcoin, because Bitcoin's attributes as a portfolio hedging tool differ from those of other cryptocurrencies.