BlockBeats News, February 13th, Robert Mitchnick, Global Head of Digital Assets at BlackRock, stated yesterday at the Bitcoin Investor Week 2026 event that institutional investors, sovereign nations, and banks are buying Bitcoin on the dip.Furthermore, Mitchnick also clarified speculation about the "IBIT Hedge Fund's default causing a Bitcoin crash," stating that there is a misunderstanding that the hedge fund was creating turmoil in the ETF, causing Bitcoin's volatility and selloff. "But what we see is not the case. Last week, the Bitcoin market was clearly turbulent, and we looked at the data for IBIT (BlackRock Bitcoin ETF), and the entire fund's redemption volume was only 0.2%. If there were indeed many hedge funds aggressively unwinding their arbitrage trades in the ETF, you should see billions of dollars flowing out. Instead, we did see billions of dollars in liquidation on these leveraged perpetual swap platforms. On the ETF side, however, it was very stable, and the investor base looked more like the type that buys and holds long term."

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