Robert Mitchnick, Global Head of Digital Assets at BlackRock, addressed speculation regarding the role of BlackRock's IBIT hedge fund in the recent Bitcoin price drop. Speaking at the Bitcoin Investor Week 2026, Mitchnick clarified that the fund's redemption rate was only 0.2%, countering claims that hedge fund activities were causing market volatility. He emphasized that institutional investors, sovereign nations, and banks are actively purchasing Bitcoin during price dips, and noted that the volatility was more pronounced in leveraged perpetual futures platforms rather than in BlackRock's ETF.
BlackRock Executive Refutes Claims of Hedge Fund Impact on Bitcoin Price Drop
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