In a recent Empire podcast, BlackRock’s Samara Cohen highlighted the current moment for bitcoin amid market volatility driven by cross-border tensions and supply chain complexities. Cohen remarked that bitcoin is not behaving as a traditional safe haven like gold, as it has increased its correlation with equities. Despite this correlation, BlackRock's bitcoin exchange-traded product (ETP), IBIT, has not experienced expected outflows, suggesting that price movements are more related to retail and speculative positions than institutional stability. Cohen emphasized that bitcoin continues to display positive skewness in its volatility, hinting at a unique resilience. Beyond bitcoin, Cohen expressed optimism about the tokenization of capital markets, indicating that BlackRock remains committed to exploring the potential of crypto and tokenization. In summary, Cohen's insights suggest that BlackRock views this as just the beginning of its crypto journey.

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