đ Bitcoin (BTC) is still under pressure, as global political tensions, economic uncertainty, and capital leaving spot ETFs continue to weigh on the market. đđ°
However, a senior executive from BlackRock shared a different take on whatâs really happening. đ
During Bitcoin Investor Week 2026, Robert Mitchnick â Global Head of Digital Assets at BlackRock â pushed back against claims that BlackRockâs IBIT ETF was responsible for Bitcoinâs recent price weakness.
While many analysts point to spot Bitcoin ETFs as a major reason for the downturn, BlackRock, which manages the largest BTC ETF (IBIT), disagrees.
Mitchnick explained that only 0.2% of the fundâs assets were withdrawn â far too small to trigger major market swings. đâ
He also emphasized that big players like institutional investors, governments, and banks often see price drops as buying opportunities. đŒđŠđ According to him, most of the extreme volatility actually comes from leveraged futures trading platforms, not ETFs.
đŁïž âThereâs a false narrative that hedge funds are intentionally using ETFs to create chaos in the market,â Mitchnick said. âSome believe they manipulate prices and force sell-offs, but our data simply doesnât back that up.â
Despite a rough week for Bitcoin, IBIT saw very minimal outflows. If hedge funds had been dumping massive ETF positions, billions of dollars would have left the fund. Instead, ETF flows remained stable â especially when compared to the huge liquidations happening in leveraged markets. â ïžđ
In conclusion, Mitchnick reinforced that IBITâs investor base is strong, committed, and focused on the long term. đđ #BTC #bitcoin
