BlackRock’s Robert Mitchnick Sees Shift in Bitcoin Sentiment
### Standfirst
Robert Mitchnick, BlackRock’s Head of Digital Assets, has noted a notable change in investor sentiment towards bitcoin over the past month. He highlighted that Bitcoin has decoupled from equities earlier this year, which previously hindered its performance when AI stocks were strong.
In July, as AI stocks experienced a significant downturn, Bitcoin outperformed significantly, reversing its previous underperformance. Despite recent declines, ETF inflows have remained robust; U.S. spot bitcoin ETFs logged their best inflow week since mid-April, with BlackRock and Fidelity’s funds contributing to these flows.
The Coldcard incident has also sparked speculation about some investors moving from self-custody into ETFs due to concerns over security. Mitchnick attributes this sentiment shift to subtle changes in investor perception rather than any immediate catalyst.
Written by Oliver Grant
Markets Desk
