**News Flash: Bitcoin ETFs Gaining Momentum**

Bitcoin exchange-traded funds (ETFs) are starting to gain traction, driven by client demand, according to BlackRock's head of digital assets, Robert Mitchnick. Speaking at the Bitcoin2024 event, Mitchnick highlighted that BlackRock CEO Larry Fink, once a skeptic, now views Bitcoin as "digital gold" after extensive study.

Mitchnick emphasized the institutional-grade infrastructure and client interest as key factors pushing Bitcoin ETFs forward. Despite regulatory uncertainties, the crypto asset class is here to stay.

Bitcoin ETFs have become some of the most successful launches in history, with BlackRock's iShares Bitcoin Trust (IBIT) contributing significantly to the firm's revenue. However, major wealth advisory platforms like Morgan Stanley and UBS have yet to offer these ETFs on a solicited basis, a process that typically takes years but is accelerating.

Mitchnick noted that institutions are slowly adopting these new assets, with Registered Independent Advisers allocating around 2-3% of funds to Bitcoin ETFs. The landscape may shift further this year as more platforms begin to embrace these offerings.