๐ Bitcoin (BTC) is still under pressure, as global political tensions, economic uncertainty, and capital leaving spot ETFs continue to weigh on the market. ๐๐ฐ
However, a senior executive from BlackRock shared a different take on whatโs really happening. ๐
During Bitcoin Investor Week 2026, Robert Mitchnick โ Global Head of Digital Assets at BlackRock โ pushed back against claims that BlackRockโs IBIT ETF was responsible for Bitcoinโs recent price weakness.
While many analysts point to spot Bitcoin ETFs as a major reason for the downturn, BlackRock, which manages the largest BTC ETF (IBIT), disagrees.
Mitchnick explained that only 0.2% of the fundโs assets were withdrawn โ far too small to trigger major market swings. ๐โ
He also emphasized that big players like institutional investors, governments, and banks often see price drops as buying opportunities. ๐ผ๐ฆ๐ According to him, most of the extreme volatility actually comes from leveraged futures trading platforms, not ETFs.
๐ฃ๏ธ โThereโs a false narrative that hedge funds are intentionally using ETFs to create chaos in the market,โ Mitchnick said. โSome believe they manipulate prices and force sell-offs, but our data simply doesnโt back that up.โ
Despite a rough week for Bitcoin, IBIT saw very minimal outflows. If hedge funds had been dumping massive ETF positions, billions of dollars would have left the fund. Instead, ETF flows remained stable โ especially when compared to the huge liquidations happening in leveraged markets. โ ๏ธ๐
In conclusion, Mitchnick reinforced that IBITโs investor base is strong, committed, and focused on the long term. ๐๐ #BTC #bitcoin
