
Robbie Mitchnick, head of digital assets at BlackRock, stated that large investors are converting their BTC into IBIT shares.
Robbie Mitchnick, head of BlackRock's digital assets unit, announced that large Bitcoin investors are converting their BTC into IBIT shares and demand has reached a record level.
AI-generated summary
Recently, increasing hacking attacks have investors worried about cold wallets and alternative storage methods.
While there have been hacking attacks at many points recently, from stock exchanges to cold wallets, the increase in such incidents seems to have frightened investors. One of the important names who spoke on the subject was Robbie Mitchnick, head of BlackRock's digital assets unit.
“Demand moves in one direction”
In an interview with Barron's, Mitchnick said that investors holding large amounts of Bitcoin are now converting their BTC into IBIT shares instead of keeping them themselves. Mitchnick stated that this demand has reached a record level and said, "The demand we are seeing now has reached the highest level we have ever encountered. General demand is almost unidirectional. It is constantly increasing."

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The US Department of Justice and Tax Administration launched a new investigation into Binance. The investigations are based on allegations that internal exchange researchers were prevented from examining accounts linked to Iran.

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