BlackRock’s Mitchnick Sees Growing Macro Support for Bitcoin After Busy Trading Week

BlackRock’s digital-assets chief says Bitcoin’s macroeconomic appeal is strengthening, following a week of record trading activity for the firm’s spot Bitcoin ETF, IBIT.

Robbie Mitchnick, BlackRock’s head of digital assets, said rising concerns over U.S. government debt and fiscal deficits are adding to the investment case for Bitcoin, particularly as traditional markets show signs of strain.

IBIT posted its highest trading volume ever for a week in which the ETF gained, dating back to its launch in January 2024. TradingView data showed the fund broadly tracking Bitcoin’s roughly 23% weekly advance.

Mitchnick told CNBC that elevated debt and deficit levels remain a significant concern for investors. He said periods of renewed fiscal anxiety have historically helped increase demand for assets such as Bitcoin and gold.

Bitcoin has also recently outperformed traditional investments. Mitchnick pointed to BTC and gold gaining ground while equities lagged and bond markets remained volatile. He said the divergence highlights Bitcoin’s growing reputation as an alternative store of value.

The comments come as investors increasingly debate the sustainability of U.S. government borrowing. Continued fiscal deterioration could contribute to financial repression, potentially pushing more capital toward scarce, hard assets.

BlackRock is at the center of the institutional Bitcoin market through IBIT, the largest spot Bitcoin ETF. Since its introduction, the fund has attracted approximately $63 billion in capital.

Last week, about 439.5 million IBIT shares changed hands as Bitcoin climbed and investors continued allocating funds to the ETF. The fund’s overall volume record remains above 700 million shares, set during the week ending Feb. 6 when Bitcoin fell toward $60,000.

The unusually high turnover alongside strong inflows suggests investors were adding exposure with conviction, rather than the rally being driven mainly by short-term speculation or retail activity.

IBIT rose 22.59% to $43.68 last week, marking its strongest weekly performance since February 2024. It also attracted around $1.33 billion in net inflows.

According to SoSoValue, IBIT has recorded roughly $2.64 billion in net inflows so far this month, its strongest monthly inflow total since October 2025.