BlackRock digital assets head Robbie Mitchnick said the macro case for Bitcoin is getting stronger, and recent flows into the firm’s spot Bitcoin exchange-traded fund suggest investors are responding in kind.
TradingView data show that BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), recorded its highest weekly trading volume among all positive weeks since its January 2024 debut after Bitcoin rallied as much as 23% last week.
Mitchnick points to debt and deficits
In an interview with CNBC, Mitchnick said, 「Fiscal debt and deficit levels are becoming a persistent overhang on markets.」
He added that when those concerns return to the headlines, they often support 「assets like Bitcoin and gold.」
Mitchnick also said equities have recently lagged Bitcoin and gold, while fixed-income markets, including bonds, have seen sharp volatility. Bitcoin’s ability to keep climbing in that setting, he said, strengthens its standing as an emerging store of value.
IBIT posts heavy turnover and fresh inflows
As the world’s largest spot Bitcoin ETF, IBIT has attracted $63 billion in inflows since launch. With Bitcoin prices surging, investors poured additional billions of dollars into the fund last week, driving weekly share turnover to 439.5 million.
Its all-time weekly trading record, however, remains the more than 700 million shares traded in the week of Feb. 6, 2026, when Bitcoin dropped sharply and retested the $60,000 level. That volume record still stands.
IBIT rose 22.59% last week to close at $43.68, marking its best weekly performance since February 2024. Net inflows reached $1.33 billion for the week, while month-to-date net inflows climbed to $2.64 billion, the strongest monthly showing since October 2025.
More market watchers are making the same argument
The article said more experts are adopting a similar view. A growing number of analysts have warned that the path of U.S. fiscal debt growth may be difficult to sustain over the long term, potentially forcing the government into what is described as financial repression, or market intervention aimed at suppressing real interest rates, and pushing capital toward inflation-resistant hard assets.