At a big talk during the Bitcoin Investor Day in New York, Robert Mitchnick, the boss of digital money things at BlackRock—the biggest group that manages money—talked about what they’re doing with digital currencies. He said that while many people are excited about Bitcoin, not many feel the same about Ethereum, and even fewer are interested in other types of digital money.

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• Robert Mitchnick from BlackRock shares that people are more into Bitcoin than Ethereum and less into other digital currencies.
• BlackRock’s Bitcoin Fund (IBIT), launched in January, quickly hit the top five ETFs list, pulling in $15 billion in investments, which shows how much people like Bitcoin.
• BlackRock is adding more digital stuff to its shelf, bringing in the BUIDL fund that works on the Ethereum network, and teaming up with Securitize to make assets digital and move them around.

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BlackRock Takes It Slow with Ethereum as Bitcoin Shines

Mitchnick cleared up some guesses people had about BlackRock getting really into a bunch of different digital money stuff. He said, “Our clients are really into Bitcoin, and a bit into Ethereum,” pointing out that they’re not really looking to dive deep into anything beyond these two big names.

There was a funny moment when Mitchnick was asked if they’d make an ETF for a joke digital money called dogwifhat (WIF), and he laughed, saying he’d never even heard of it. This showed that BlackRock wants to keep away from the riskier side of digital money.

The excitement for BlackRock getting into digital money started with their Bitcoin Fund (IBIT) in January. This fund quickly became one of the favorites, with $15 billion in investments. This shows how much people are sticking with Bitcoin, changing the game for a company that wasn’t too sure about digital money before.

The big reason BlackRock started being cool with Bitcoin was because people kept asking for it, no matter if the market was up or down. They also were tired of how hard it was to get into digital money. Now, BlackRock is growing its digital money stuff, starting the BUIDL fund on the Ethereum network, working with Securitize to turn assets digital and make moving them around easier.

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