BlackRock’s Mitchnick: Bitcoin’s Macro Story Grows Stronger After Record Trading

BlackRock’s digital-assets chief offered a bullish view on Bitcoin after the firm’s spot BTC ETF, IBIT, recorded its highest trading volume during a winning week.

Robbie Mitchnick, head of digital assets at BlackRock, said the macroeconomic backdrop for Bitcoin is becoming increasingly favorable, with investors appearing to share that optimism.

Trading activity in BlackRock’s spot Bitcoin ETF reached a record last week for any week in which the fund posted gains since its launch in January 2024. According to TradingView data, IBIT’s performance broadly followed Bitcoin’s 23% weekly advance.

Mitchnick told CNBC that rising U.S. debt and deficit levels remain a major concern for financial markets. He said renewed attention to fiscal risks could create stronger demand for assets such as Bitcoin and gold.

He also pointed out that equities have recently underperformed Bitcoin and gold, while fixed-income markets have experienced increased volatility. In that environment, Bitcoin’s strength highlights its growing appeal as an alternative store of value.

Mitchnick’s view reflects a broader concern among market observers about the sustainability of U.S. government debt. Some analysts argue that mounting fiscal pressure could contribute to financial repression, encouraging investors to shift capital toward scarce or hard assets.

BlackRock has a central position in this trend as the issuer of the world’s largest spot Bitcoin ETF. Since launching, IBIT has attracted approximately $63 billion in investor capital.

Last week, around 439.5 million IBIT shares were traded as Bitcoin rallied and investors added billions of dollars to the fund. The record remains more than 700 million shares traded during the week ending Feb. 6, when Bitcoin fell toward $60,000.

The unusually high trading activity during a rising market, combined with strong fund inflows, points to substantial institutional demand rather than activity driven primarily by short-term traders or retail investors.

IBIT climbed 22.59% to $43.68 last week, marking its strongest weekly performance since February 2024. The ETF also recorded $1.33 billion in net inflows.

According to SoSoValue, IBIT’s net inflows for the month have reached $2.64 billion, representing the fund’s strongest monthly inflow total since October 2025.