bitcoinNovember 9, 2026
BlackRock: Bitcoin Whales Move to ETFs Over Hack Fears
Large bitcoin holders are increasingly swapping coins for ETF shares to protect their funds. Robert Mitchnick, who heads digital assets at BlackRock, said this in an interview with Barron’s.
According to him, security is behind the choice: holders of large bitcoin amounts fear hacks.
For someone who holds or exchanges cryptocurrency, this means some large players see ETFs as a way to hold bitcoin without storing the coins themselves.