November 23, 2025 | 03:32In a revealing podcast interview, BlackRock’s Head of Digital Assets Robbie Mitchnick has downplayed Bitcoin’s immediate potential as a global payment network, characterizing it as “out-of-the-money option value upside” rather than a core investment thesis. The world’s largest asset manager reveals that neither the firm nor its institutional clients are currently underwriting Bitcoin investments based on payment network capabilities, instead focusing on the cryptocurrency’s store-of-value properties and other fundamental characteristics. This perspective from a financial heavyweight provides crucial insight into how major institutions view Bitcoin’s evolving utility beyond current primary use cases.
about BlackRock: Bitcoin's Payment Use Not Key Investment DriverRobbie Mitchnick
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Bitcoin Whales Shift to Wall Street Via ETFs
Major Bitcoin holders are migrating their crypto wealth to traditional finance through spot Bitcoin ETFs, enabling tax-neutral swaps of Bitcoin for ETF shares without triggering taxable events. This movement reflects growing recognition of TradFi’s convenience and integration benefits, with BlackRock alone processing over $3 billion in conversions as Bitcoin whales embrace traditional financial services.
about Bitcoin Whales Shift to Wall Street Via ETFsBitcoin Whales Shift Billions to BlackRock’s IBIT ETF
Major Bitcoin holders are transferring billions of dollars worth of cryptocurrency into spot Bitcoin ETFs, with BlackRock emerging as a primary beneficiary. This movement signals a significant shift in how large investors prefer to hold their Bitcoin exposure. The trend highlights growing institutional acceptance of cryptocurrency within traditional financial frameworks.
about Bitcoin Whales Shift Billions to BlackRock's IBIT ETFBlackRock Launches Bitcoin Income ETF to Capitalize on Volatility
In a strategic move that underscores its deepening commitment to the digital asset space, BlackRock has filed for an innovative Bitcoin ETF designed to generate income from the cryptocurrency’s notorious price swings. The iShares Bitcoin Premium ETF will employ a covered-call strategy, a first for a major US Bitcoin fund, signaling a shift from passive price tracking to active yield generation. This development reinforces BlackRock’s focus on established market leaders like Bitcoin and Ethereum, even as competitors explore riskier altcoins.
about BlackRock Launches Bitcoin Income ETF to Capitalize on VolatilityBlackRock: Crypto ETF Institutional Adoption Still Early Stage
Despite the headline-grabbing success of spot Bitcoin and Ethereum ETFs in the retail market, BlackRock’s digital assets chief, Robbie Mitchnick, asserts that institutional adoption remains in its earliest innings. In a recent interview, Mitchnick revealed that the vast majority of US wealth advisors still lack the authority to allocate client portfolios to crypto ETFs, with most firms permitting only execution-only transactions. This significant lag behind retail uptake underscores a critical hurdle for mainstream financial integration, even as BlackRock’s own model portfolios prepare to include Bitcoin ETF allocations for the first time in early 2025.
about BlackRock: Crypto ETF Institutional Adoption Still Early StageFirst US Solana Staking ETF Set to Launch Soon
The REX-Osprey Solana staking ETF is expected to debut soon as the first Solana ETF in the US, following regulatory clearance from the SEC. Bloomberg analysts note that REX Shares used a unique ’40 Act’ corporate structure to bypass typical staking-related regulatory challenges. The ETF will track Solana’s market performance while generating staking rewards, offering traditional investors a new way to gain crypto exposure. Industry experts highlight the fund’s innovative approach, which could set a precedent for future crypto staking ETFs. While the SEC has yet to confirm a launch date, REX Shares has signaled readiness, calling it the ‘first-ever staked crypto ETF’ in the US.
about First US Solana Staking ETF Set to Launch SoonBlackRock Positions Bitcoin as a New Alternative to Gold
BlackRock has declared Bitcoin a “gold alternative,” highlighting its potential to protect against inflation and market volatility due to its limited supply. The firm views Bitcoin as a “risk-off” asset, appealing to investors seeking stability during economic uncertainty, while Ethereum is recognized for its innovative technology and potential for growth in decentralized applications. As institutional interest in Bitcoin rises, its demand and value are expected to increase significantly.
about BlackRock Positions Bitcoin as a New Alternative to GoldBlackRock Differentiates Bitcoin as Safe Asset and Ethereum as Speculative Bet
BlackRock categorizes Bitcoin as a “gold alternative” and Ethereum as a speculative tech investment, highlighting Bitcoin’s role as a decentralized asset amid global instability. In contrast, Standard Chartered argues Bitcoin lacks geopolitical hedging capabilities, suggesting it is more effective against traditional finance issues. Recent market movements, including a drop in Bitcoin’s price amid geopolitical tensions, challenge these classifications, with analysts predicting potential rebounds or declines based on market stabilization.
about BlackRock Differentiates Bitcoin as Safe Asset and Ethereum as Speculative BetBlackRock Expands Bitcoin Holdings to 358000 BTC Worth 22 Billion Dollars
BlackRock has solidified its position as the largest Bitcoin fund globally, amassing approximately 358,000 BTC valued at around $22.76 billion since launching its Bitcoin ETF, IBIT. This surpasses Grayscale’s holdings by nearly 100,000 BTC, while Grayscale leads in Ethereum with 2.104 million ETH.Robbie Mitchnick, head of digital assets at BlackRock, emphasized Bitcoin’s unique characteristics, likening it to gold and highlighting its decentralized nature, scarcity, and lack of country-specific risks, which make it an attractive option for portfolio diversification.
about BlackRock Expands Bitcoin Holdings to 358000 BTC Worth 22 Billion DollarsBlackRock’s Bitcoin ETF Sparks Controversy Over Custody and Transparency Issues
BlackRock, managing $9.5 trillion in assets, confirmed it operates its own blockchain node and holds 357,732 BTC worth approximately $22.6 billion. Amid rumors of Coinbase issuing “paper Bitcoin” instead of actual holdings, BlackRock’s ETF operations remain under scrutiny, with analysts dismissing these claims as conspiracy theories. Coinbase’s CEO stated that all ETF transactions are settled on-chain, reinforcing the legitimacy of their custodial practices. For more details, visit [Bloomberg](https://www.bloomberg.com) and [SEC](https://www.sec.gov).
about BlackRock's Bitcoin ETF Sparks Controversy Over Custody and Transparency Issues