BlackRock: Institutions focus on Bitcoin and Ethereum; AI seen as a key driver of the crypto market.

Robbie Mitchnick, head of digital assets at BlackRock, said that institutional investors are focusing their crypto asset allocations on Bitcoin and Ethereum, showing limited interest in most other tokens, which they believe lack long-term value. At the same time, he pointed out that artificial intelligence will become a more important long-term driver than crypto assets, and emphasized that cryptocurrencies, as “computer-native currencies,” have a natural synergy with AI’s “computer-native data and intelligence.”