BlackRock’s Wild Bitcoin ETF Prediction! 🤯

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Ah, the lords of BlackRock, perched high upon their hoard, have spoken! Robert Mitchnick, he who whispers to digital assets, proclaims the frothy success of the iShares Bitcoin Trust (IBIT) but a mere hiccup in the grand scheme. He, in his infinite wisdom gleaned from Bloomberg’s ETF IQ on this ninth day of June, 2025, declares this Bitcoin ETF dance just a clumsy first step. Institutional titans, sluggish beasts that they are, still fumble with paperwork and ponderous investigations.

“Very Early” For Bitcoin ETFs

“There has been nothing like this,” bleats Bloomberg’s Eric Balchunas, eyes wide at IBIT’s vulgar display of wealth. Seventy billion dollars amassed in a paltry 341 days! A record, they say, shattering the previous champion, GLDY, who dawdled for 1,691 days. “Just ridiculous numbers here,” Balchunas gasps, as if witnessing a peasant suddenly crowned king.

Mitchnick, ever the strategist, attributes this deluge to a mob of retail rabble and the cautious probing of professional money-men. “It is a lot of things coming together,” he concedes, “You don’t get a chart like that without a confluence of actors all occurring at the same time.” Indeed, a tempest of fools and financiers, all clamoring for a piece of the digital pie. 🥧

“Out of the gate it was retail and investor demand, and that ran the gamut of small retail investors to ultra net worth. Now, more recently, we have seen steady progress of more wealth advisor adoption, more institutional adoption.” So, the little fish and the whales swim together, for now.

Yet, despite IBIT’s swagger and the market’s fevered pitch, Mitchnick cautions that institutional dalliance remains but a flirtation. “Very early,” he murmurs, when pressed on the matter of wealth advisor devotion. “What we have seen is a concerted effort by most of the largest firms to progress through their diligence and research and approval process… You’ve seen that fast-tracked by a number of firms. We’re talking by quarters, not months.” Bureaucracy, that great anchor of progress! 🐌

Such sluggishness, he explains, is the nature of the asset management beast, where ETF blessings demand years of ritual and red tape. “Slowly but surely,” Mitchnick drones, “you have seen an acceleration, particularly in the last couple months, of more notable firms lowering barriers, granting approval to their advisors to use this, and that is set to continue.” The gears grind on, ever so slowly.

Beyond mere regulation, Bitcoin’s shifting reputation plays a part in this institutional dance. “Bitcoin is a volatile asset,” Mitchnick admits, with the air of a man confessing a dirty secret. “At the same time, its risk and return drivers are markedly different from most of the rest of the assets in a traditional portfolio. That is important.”

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2025-06-11 06:43