BlackRock: Institutions Only Recognize BTC and ETH, AI is the Next Key Driver
Robbie Mitchnick, Head of Digital Assets at the world's largest asset manager BlackRock, stated:
Institutional investors only recognize Bitcoin and Ethereum; other tokens lack long-term value.
Core Points
• Bitcoin: Digital gold, hedging fiat credit risk
• Ethereum: Programmable financial infrastructure with real use
• Other tokens: Most lack clear use cases and will be eliminated by the market
AI × Crypto
Mitchnick believes AI is a larger long-term driver than crypto, but the two naturally synergize:
• Crypto is "computer-native currency"
• AI is "computer-native data and intelligence"
AI agents need payment, data rights, and trustless execution—crypto can provide all of that.
Institutions in Action
• BlackRock's IBIT Bitcoin ETF continues to attract capital
• Ethereum ETF is steadily growing
• Invesco and NYSE are accelerating their tokenization efforts
Institutions are not here to speculate on coins; they are building infrastructure.