BlackRock: Customers view BTC and ETH as complementary, showing little interest in other cryptocurrencies

BlockBeats reports that on July 26, Robert Mitchnick, the head of digital assets at BlackRock, stated at the Bitcoin 2024 conference that BlackRock believes its clients have "almost no interest" in cryptocurrencies other than Bitcoin (BTC) and Ethereum (ETH). He also predicted that not many cryptocurrency ETFs will emerge beyond these two core digital assets.

Robert Mitchnick said, "Most of BlackRock's clients view BTC and ETH as complementary rather than competitive. When they purchase an ETH ETF, they usually add it to their existing cryptocurrency investment portfolio instead of swapping out BTC." He warned that data about investor inflows into ETH ETFs is still very limited.