BlackRock’s Head of Crypto Robbie Mitchnick joins Ryan to unpack how institutions are actually allocating (and why correlation to “digital gold” matters), what the ETF data says about demand for BTC and ETH, and why the October leverage flush didn’t dent long-term adoption.

We dig into BlackRock’s tokenization roadmap, from the BUIDL-style tokenized money market funds and the Genius Act angle to the stablecoin flywheel, plus what’s still missing: secondary liquidity and pragmatic regulatory clarity.

Robbie lays out a realistic 24–36 month path, a 2026 “show-me” phase for real utility, and candid advice for allocators on sizing and asset selection.

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TIMESTAMPS

0:00 Is It Over?

11:54 Institutional Response to Liquidations

13:57 Bitcoin vs Gold

16:36 Bitcoin’s IPO Moment?

19:29 Next Catalyst

24:23 Institutional Growth

26:41 Central Bank Adoption

28:25 BlackRock ETFs

30:21 Ethereum ETFs

32:38 Tokenization Roadmap

35:33 GENIUS-Aligned Money Market Fund

38:08 Progress in Tokenization

43:04 Regulatory Clarity

46:30 Bull Case for Tokenization

48:08 Is Wall Street Convinced?

49:59 Bear Case for Tokenization

52:01 Restructuring Banks

54:16 How Many Stablecoins?

55:10 1-Year Goals

57:37 Advice to Institutional Investors

59:47 Closing & Disclaimers

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RESOURCES

Robbie Mitchnick

https://x.com/robbiemitchnick 

Blackrock Digital Assets

https://www.blackrock.com/us/financial-professionals/investments/products/bitcoin-investing 

“Bitcoin’s Silent IPO”

https://finance.yahoo.com/news/bitcoins-silent-ipo-analyst-addresses-144047837.html 

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