BlackRock Expects AI to Drive Next Phase of Cryptocurrency Growth

BlackRock's head of digital assets, Robbie Mitchnick, has signaled a shift in how large investors view cryptocurrency, pointing to artificial intelligence as a key driver in the next phase of growth.

According to Mitchnick, investors are increasingly focusing on a narrow set of top tokens, with Bitcoin (BTC) and Ethereum (ETH) dominating allocations. This shift away from broad exposure to smaller assets has led to a decrease in interest in newer tokens, which often fail to hold long-term relevance.

The intersection of AI and crypto is an area that Mitchnick believes holds significant potential for growth. As AI agents increasingly rely on computer-native money, such as cryptocurrency, there may be opportunities for investment and collaboration between the two fields.