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The BlackRock logo is pictured outside the company's headquarters in the Manhattan borough of New York City on May 25, 2021. BlackRock has expanded its tokenized money market fund to include several more blockchains. The investment manager said Wednesday that its USD Institutional Digital Liquidity Fund (BUIDL) is now available to investors on the Aptos; Arbitrum; Avalanche; OP Mainnet, formerly known as Optimism; and Polygon blockchains. The BUIDL fund, which BlackRock debuted two months after iShares Bitcoin Trust, its popular bitcoin exchange-traded fund, gives investors an opportunity to earn U.S. dollar yields through a blockchain-based vehicle. The BUIDL fund is tokenized by Securitize, a company BlackRock has invested in that specializes in the tokenization of real-world assets.
Persons: iShares, Robert Mitchnick, Donald Trump's, Trump, Biden, Coinbase Organizations: Institutional, Avalanche, Ethereum, BlackRock, U.S, Metrics, U.S . Securities, Exchange Commission, SEC, Binance Locations: BlackRock, Manhattan, New York City, cryptocurrencies
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock's head of digital assets discusses whether asset manager will explore other crypto ETFsCNBC Crypto World speaks with Robert Mitchnick, BlackRock's head of digital assets, about crypto ETFs from Bitcoin 2024 in Nashville.
Persons: Robert Mitchnick Organizations: CNBC Locations: Nashville
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin bounces back above $67,000, while ether drops more than 7% for the week: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, CNBC Crypto World spoke with Robert Mitchnick, BlackRock's head of digital assets, about crypto ETFs and Senator Bill Hagerty of Tennessee about crypto regulation from Bitcoin 2024 in Nashville.
Persons: explainers, Robert Mitchnick, Bill Hagerty Organizations: CNBC Crypto, CNBC Locations: Tennessee, Nashville
BlackRock's push into crypto has been expeditious, but it may be hitting the brakes after bitcoin and ether. But Robert Mitchnick, BlackRock's head of digital assets, shut that possibility down at the Bitcoin Investor Day conference last week. He pointed out that bitcoin and ether make up the majority of the crypto market cap – bitcoin at 52% and ether at 16%, according to CoinMarketCap. In addition to bitcoin and ether ETFs, BlackRock is also exploring digital assets through tokenization efforts. "And we have clients who are comfortable and fluent on blockchain infrastructure, interacting with digital assets.
Persons: That's, Robert Mitchnick, Mitchnick, that's, we're, … IBIT, bitcoin, Wall, Larry Fink, CNBC's, it's Organizations: BlackRock, U.S, Locations: BlackRock
If you're looking for your bitcoin to go to the moon, the window of opportunity may be slowly closing, according to BlackRock. "Certainly, returns going forward will come down," he said at the Bitcoin Investor Day conference in New York City Friday. That demand was "massive and clear" in 2023, when BlackRock filed to launch its iShares Bitcoin Trust. "I don't think we've seen the end of cycles in bitcoin," Mitchnick said. "[With] bitcoin, when the price goes up, the probabilities of success and adoption in some senses, as digital gold, are also changing," he said.
Persons: Robert Mitchnick, It's, , Mitchnick, CNBC's Ganesh Rao Organizations: BlackRock Locations: BlackRock, New York, @GC
Bitcoin is more like digital gold than a so-called "risk-on" asset, according to Robert Mitchnick, BlackRock's digital assets lead. For years, bitcoin's ability to behave in different ways at different times has stumped investors . "Historically bitcoin's long-term average correlation [to stocks] has been close to zero – slightly positive, but close to zero," he said. While the recent rally was spurred by the launch of U.S. bitcoin ETFs, some on Wall Street have suggested that it may have recently fused into the more macroeconomic-fueled gold rally . Risk and portfolio construction That, understandably, adds confusion for newcomers to bitcoin investing, who are drawn to its digital gold-like qualities.
Persons: Robert Mitchnick, BlackRock's, bitcoin, It's, Bitcoin, bitcoin rocketed, Mitchnick Organizations: New York City, Fed, BlackRock Locations: New York
A group of employees at the firm organized and started holding a forum to discuss crypto, five people familiar with the group told Insider. Eager, usually more junior, staff members huddled around to hear industry experts talk about crypto and blockchain. A junior employee touched off BlackRock's crypto effortsThe blockchain working group and the informal crypto-asset forum will end up being key footnotes in the firm's history. Leaving BlackRock for cryptoLader left BlackRock in June 2021 for Uniswap, the world's largest decentralized-exchange protocol, where she is now the chief operating officer. She was "very, very central" to the firm's crypto efforts," a former employee said.
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